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Optiv Security readies launch of new credit facility for Jan. 5
By Sara Rosenberg
New York, Dec. 22 – Optiv Security Inc. is scheduled to hold a bank meeting at 10:30 a.m. ET on Jan. 5 to launch its proposed credit facility, according to a market source.
Jefferies Finance LLC is the left lead on the deal.
The facility includes an ABL revolver, a covenant-light first-lien term loan and a covenant-light second-lien term loan. Tranche sizes are not yet available, the source said.
Proceeds will be used to help fund the buyout of the company by KKR from a group of private investors, including a private equity fund managed by Blackstone, which will maintain a minority interest in Optiv along with Optiv management. Other selling shareholders include Investcorp and Sverica.
Closing is expected in the first quarter of 2017, subject to customary conditions.
Optiv Security is a Denver-based provider of end-to-end cyber security solutions.
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