Conga launches $565 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, April 15 – Conga (Apttus Corp.) launched on Thursday its $565 million seven-year covenant-lite first-lien term loan (B3/B-) with price talk of Libor plus 400 basis points to 425 bps with a 0.75% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank Securities Inc., BofA Securities Inc., Barclays, Citigroup Global Markets Inc. and Morgan Stanley Senior Funding Inc. are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on April 27.

Proceeds will be used to repay $565 million of existing borrowings.

Based in San Mateo, Calif., Conga is a provider of a cloud-based software platform that digitally transforms revenue operations.

© 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.