SafeNet to launch $150 million incremental term loan B on Wednesday

By Sara Rosenberg

New York, March 12 - SafeNet Inc. will be holding a conference call at 2 p.m. ET on Wednesday to launch a $150 million incremental first-lien term loan B, according to a market source.

In addition, the company will also launch an amendment and extension of its $25 million revolver, $236 million first-lien term loan B and $131 million second-lien term loan, the source said.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the lead banks on the deal.

Proceeds from the incremental debt will be used to fund a distribution to shareholders.

SafeNet is a Belcamp, Md.-based provider of information security software and encryption technology.

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