LANDesk Software to launch $1.1 billion credit facility on Wednesday

By Sara Rosenberg

New York, Jan. 3 – LANDesk Software Group Inc. is scheduled to host a lenders’ presentation at 11 a.m. ET on Wednesday to launch a $1.1 billion senior secured credit facility, according to a market source.

Morgan Stanley Senior Funding Inc., Barclays, Jefferies Finance LLC, Golub Capital LLC, Macquarie Capital Inc. and Nomura Securities International are the leads on the deal.

The facility consists of a $75 million revolver, an $800 million first-lien term loan and a $225 million second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Clearlake Capital Group LP from Thoma Bravo.

As part of the transaction, Clearlake will contribute its portfolio company HEAT Software, a Milpitas, Calif.-based provider of Cloud Service Management and Unified Endpoint Management software solutions, to the new platform investment in LANDesk.

The combined company will operate under a new corporate name, which will be announced at a later date.

Closing is expected this month.

LANDesk is a Salt Lake City-based user-centered IT management company.

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