Quest/One Identity set to launch $1.80 billion of loans on Friday

By Sara Rosenberg

New York, May 3 – Quest/One Identity is scheduled to hold a lender call at noon ET on Friday to launch $1,795,000,000 of term loans, according to a market source.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

The debt consists of a $1.42 billion seven-year first-lien term loan and a $375 million eight-year second-lien term loan, the source said.

Both term loans have a 0% Libor floor.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has call protection of 102 in year one and 101 in year two, the source continued.

Commitments are due at 5 p.m. ET on May 15.

Proceeds will be used to finance the carve-out of the business from Seahawk Holdings.

Quest/One Identity is a provider of integrated infrastructure software and identity of governance.

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