Tritech/Superion/Aptean launches term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, July 31 – Tritech Software Systems Inc./Superion LLC/Aptean Software LLC launched on Tuesday its $895 million seven-year covenant-light first-lien term loan (B) with price talk of Libor plus 375 basis points to 400 bps with a 0% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

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

The company’s $1.4 billion of credit facilities also include a $125 million five-year revolver (B) and a $380 million privately placed eight-year second-lien term loan (CCC).

Antares Capital, Macquarie Capital (USA) Inc. and SunTrust Robinson Humphrey Inc. are the leads on the deal.

Commitments are due on Aug. 10, the source added.

Proceeds will be used to help fund the merger of Tritech, which is currently owned by Bain Capital Private Equity, with Superion and Aptean, which are both owned by Vista Equity Partners.

The combined company, jointly owned by Bain Capital and Vista Equity, will be a software provider to municipalities and public safety agencies.

Closing is expected in the third quarter, subject to customary conditions.

© 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.