Sophos readies launch of $400 million term loan for Thursday

By Sara Rosenberg

New York, Jan. 6 - Sophos Ltd. (Shield Finance Co. Sarl) is scheduled to hold a bank meeting at 9:30 a.m. ET in New York on Thursday to launch a $400 million seven-year covenant-light term loan, according to a market source.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to refinance an existing term loan.

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

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