Aptos readies launch of $330 million in term loans for Wednesday

By Sara Rosenberg

New York, June 26 – Aptos Inc. is scheduled to hold a bank meeting on Wednesday to launch $330 million in term loans, according to a market source.

Credit Suisse Securities (USA) LLC is the left lead bank on the deal.

The debt consists of a $230 million seven-year first-lien term loan and a $100 million eight-year second-lien term loan, the source said.

Price talk on the first-lien term loan is Libor plus 500 basis points with a 0% Libor floor and an original issue discount of 99.5, and talk on the second-lien term loan is Libor plus 900 bps with a 0% Libor floor and a discount of 99, the source continued.

The first-lien term loan has 101 soft call protection for six months and the second-lien term loan has call protection of 102 in year one and 101 in year two.

Proceeds will be used to refinance an existing first-lien term loan.

Commitments are due on July 17, the source added.

Aptos is an Atlanta-based retail technology solutions company.

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