Cvent launches $700 million term loan at Libor plus 350-375 bps

By Sara Rosenberg

New York, Nov. 2 – Cvent Inc. held a lender call at 1 p.m. ET on Thursday to launch a $700 million seven-year first-lien term loan (B-) with price talk of Libor plus 350 basis points to 375 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

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

Goldman Sachs Bank USA, Antares Capital, Jefferies LLC and RBC Capital Markets LLC are the leads on the deal.

Commitments are due on Nov. 14, the source added.

Proceeds will be used to pay down existing first- and second-lien term loans.

Cvent is a Tysons Corner, Va.-based software-as-a-service solutions provider to the enterprise meetings and event management industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.