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ConnectWise talks $1.05 billion term loan B at Libor plus 350-375 bps
By Sara Rosenberg
New York, Sept. 13 – ConnectWise launched on Monday its $1.05 billion seven-year term loan B (B2//BB+) with price talk of Libor plus 350 basis points to 375 bps with a 0.5% 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.
BofA Securities Inc. is the lead on the deal.
Commitments are due at 5 p.m. ET on Sept. 23, the source added.
Proceeds will be used to refinance an existing unitranche term loan due February 2025.
ConnectWise is a business management platform that is based in Tampa, Fla.
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