Sophos to launch roughly $438 million credit facility on Wednesday

By Sara Rosenberg

New York, April 16 - Sophos Ltd. will be holding a bank meeting at 10 a.m. ET on Wednesday to launch credit facility that is equivalent to about $438 million, according to a market source.

J.P Morgan Securities LLC and RBC Capital Markets LLC are the lead banks on the deal.

The facility consists of a $20 million five-year revolver, a €75 million five-year term loan A and a $320 million seven-year term loan B, the source said.

Proceeds will be used to refinance existing debt.

Sophos is an IT security and data protection firm that has headquarters in Burlington, Mass., and Oxford, England.

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