SUSE launches $300 million term loan at Libor plus 400 bps

By Sara Rosenberg

New York, Sept. 15 – SUSE (Marcel Lux IV Sarl) held a lender call at 11 a.m. ET on Tuesday to launch a non-fungible $300 million seven-year incremental first-lien term loan (B) that is talked at Libor plus 400 basis points with a 0.75% Libor floor and an original issue discount of 98.5 to 99, according to a market source.

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

J.P. Morgan Securities LLC, BofA Securities Inc., Deutsche Bank Securities Inc., Goldman Sachs Bank USA and Jefferies LLC are the bookrunners on the deal.

Commitments are due at noon ET on Sept. 22, the source added.

Proceeds will be used to help fund the acquisition of Rancher Labs, a Cupertino, Calif.-based open source software company.

Closing is expected before the end of October, subject to customary conditions including receipt of regulatory approvals.

SUSE is a Nuremberg, Germany-based provider of open source infrastructure software for large enterprises.

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