TeamViewer discloses first- and second-lien term loan price talk

By Sara Rosenberg

New York, June 16 – TeamViewer released price talk on its $310 million seven-year first-lien covenant-light term loan (B1), €100 million seven-year first-lien covenant-light term loan (B1) and $125 million eight-year second-lien covenant-light term loan (Caa1) in connection with its London bank meeting on Monday, according to a market source.

A New York bank meeting will take place on Tuesday.

The U.S. first-lien term loan is talked at Libor plus 450 basis points to 475 bps with a 1% Libor floor and an original issue discount of 99 and the euro first-lien term loan is talked at Euribor plus 475 bps to 500 bps with a 1% Libor floor and a discount of 99. The second-lien term loan is talked at Libor plus 800 bps to 825 bps with a 1% Libor floor and a discount of 98˝, the source said.

Included in the U.S. and euro first-lien term loans is 101 soft call protection for one year, and the second-lien term loan has call protection of 102 in year one and 101 in year two.

The company’s credit facility also provides for a $35 million five-year revolver (B1).

Commitments are due on June 30, the source added.

Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Nomura are the lead banks on the deal.

Proceeds will be used to help fund the buyout of the company by Permira.

TeamViewer is a Germany-based provider of secure remote support software and Online Meetings.

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