Certara cuts spread on $250 million term loan to Libor plus 400 bps

By Sara Rosenberg

New York, Aug. 2 – Certara reduced pricing on its $250 million seven-year senior secured first-lien term loan (B) to Libor plus 400 basis points from talk of Libor plus 425 bps to 450 bps, according to a market source.

Also, original issue discount talk on the term loan was changed to a range of 99 to 99.5 from just 99 previously, the source said.

The term loan still has a 1% Libor floor and 101 soft call protection for six months.

Commitments are due at noon ET on Thursday, accelerated from Friday, the source added.

The company’s credit facilities also include a $20 million five-year senior secured revolver (B) and a $100 million pre-placed eight-year HoldCo unsecured term loan.

Jefferies LLC and Golub are the bookrunners on the deal.

Proceeds will be used to help fund the buyout of the company by EQT from Arsenal Capital Partners for $850 million. Arsenal Capital will retain a minority ownership stake in the company.

Certara is a Princeton, N.J.-based provider of technology-driven decision support solutions for drug development.

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