SolarWinds launches U.S. and euro term loan B repricing to lenders

By Sara Rosenberg

New York, Aug. 3 – SolarWinds, Inc. held a lender call at 1 p.m. ET on Wednesday to launch a $1,435,000,000 senior secured seven-year term loan B and a €230 million senior secured seven-year term loan B, according to a market source.

Goldman Sachs Bank USA is the lead bank on the deal.

Price talk on the term loans is Libor/Euribor plus 450 basis points to 475 bps with a 1% floor, the source said.

The term loans have 101 soft call protection for six months and amortization of 1% per annum.

Proceeds will be used to reprice existing term loan B debt from Libor/Euribor plus 550 bps with a 1% floor.

Old money is offered at par, with a 101 soft call paid, and new money is offered at an original issue discount of 99.5, the source continued.

Commitments are due at 4 p.m. ET on Aug. 10, the source added.

SolarWinds is an Austin, Texas-based provider of IT network and systems infrastructure management software.

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