Optiv launches $725 million term loan at SOFR plus 500-525 bps

By Sara Rosenberg

New York, April 5 – Optiv Inc. held a lender call at 3 p.m. ET on Wednesday to launch a $725 million first-lien term loan due August 2026 that is talked at SOFR plus 500 basis points to 525 bps with a 1% floor and an original issue discount of 96.5, according to a market source.

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

Jefferies LLC and KKR Capital Markets are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on April 17, the source added.

Proceeds will be used with a $185 million privately placed second-lien PIK toggle facility to refinance the company’s existing debt and fund the acquisition of ClearShark LLC, a Maryland-based advisor and top value-added reseller of cybersecurity and modernization technology to the U.S. federal government.

Optiv is a Denver-based pureplay cyber security solutions provider.

© 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.