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Confluence to launch $435 million credit facilities on Thursday
By Sara Rosenberg
New York, July 6 – Confluence Technologies Inc. is set to hold a lender call at 1 p.m. ET on Thursday to launch $435 million of credit facilities, according to a market source.
Golub Capital is the left lead arranger on the deal.
The facilities consist of a $40 million revolver, a $290 million covenant-lite first-lien term loan and a $105 million covenant-lite second-lien term loan, the source said.
The company is also getting a $75 million first-lien delayed-draw term loan that has been privately placed with Golub.
Proceeds will be used to help fund the buyout of the company by Clearlake Capital Group LP from TA Associates. TA will retain a minority equity stake in the company.
Closing is expected in the third quarter, subject to customary regulatory approvals and conditions.
Confluence is a Pittsburgh-based software provider of performance reporting, analytics, regulatory reporting, risk and data solutions for financial services companies.
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