Storable readies launch of $425 million term loan for Thursday

By Sara Rosenberg

New York, Feb. 17 – Storable Inc. (EQT Box Merger Sub Inc.) will hold a lender call at 2 p.m. ET on Thursday to launch a $425 million seven-year senior secured covenant-lite first-lien term loan, according to a market source.

Credit Suisse Securities (USA) LLC, Antares Capital and Mizuho are the lead arrangers on the deal.

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

Commitments are due at 5 p.m. ET on March 4.

Proceeds will be used to help fund the buyout of the company by EQT Private Equity.

Closing is expected in the second quarter, subject to customary conditions and approvals.

Storable is an Austin, Tex.-based provider of software, payments, insurance and marketplace solutions to the self-storage industry.

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