Accuvant/FishNet discloses OID talk on incremental term loans

By Sara Rosenberg

New York, May 6 – Accuvant Inc./FishNet Security Inc. released original issue discount talk on its $100 million incremental first-lien term loan and $70 million incremental second-lien term loan in connection with its lender call on Wednesday afternoon, according to a market source.

The first-lien term loan is talked at a discount of 99.5 to 99.75, and the second-lien term loan is talked at a discount of 99, the source said.

As previously reported, pricing on the first-lien term loan is Libor plus 525 basis points with a 1% Libor floor, and pricing on the second-lien term loan is Libor plus 900 bps with a 1% Libor floor.

Jefferies Finance LLC is the lead arranger on the $170 million in fungible incremental term loans.

Commitments are due on Monday, the source added.

Proceeds will be used to fund a distribution to existing shareholders.

Accuvant/Fishnet is a provider of information security services and solutions.

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