Bomgar shifts funds between first-and second-lien term loans

By Sara Rosenberg

New York, Sept. 28 – Bomgar Corp. upsized its incremental first-lien term loan due April 17, 2025 to $335 million from $315 million and downsized its privately placed incremental second-lien term loan due April 19, 2026 to $104 million from $124 million, according to a market source.

Also, the original issue discount on the incremental first-lien term loan was revised to 99.75 from 99.5, the source said.

Pricing on the incremental first-lien term loan remained at Libor plus 400 basis points with a 0% Libor floor.

Jefferies LLC, RBC Capital Markets, Golub, Antares Capital, ING and Barings are the lead arrangers on the deal.

Recommitments were scheduled to be due at end of business on Friday, the source added.

Allocations are expected on Monday morning.

Proceeds from the incremental debt will be used to fund the acquisition of BeyondTrust from Veritas Capital.

Closing is expected in October.

Bomgar, a Francisco Partners portfolio company, is an Atlanta-based provider of remote support and privileged access management solutions to enterprise customers. BeyondTrust is a Phoenix-based privilege-centric security company, providing an approach to prevent data breaches related to stolen credentials, hijacked insider accounts and misused privileges.

The combined company will be based in Atlanta and will be called BeyondTrust.

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