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ArisGlobal to launch $270 million credit facilities on Monday
By Sara Rosenberg
New York, July 12 – ArisGlobal (Athos Merger Sub LLC) is scheduled to hold a bank meeting at 10 a.m. ET in New York on Monday to launch $270 million of credit facilities, according to a market source.
Credit Suisse Securities (USA) LLC is the sole lead arranger on the deal.
The facilities consist of a $30 million revolver and a $240 million seven-year covenant-lite first-lien term loan, the source said.
The term loan is talked with a 0% Libor floor and 101 soft call protection for six months.
Commitments are due at 5 p.m. ET on July 26, the source added.
Proceeds will be used to help fund the buyout of the company by Nordic Capital.
ArisGlobal is a Coral Gables, Fla.-based developer of cloud-based software for pharmaceutical and R&D companies.
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