Campaign launches $160 million term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, April 9 - Campaign Monitor launched on Wednesday its $160 million seven-year first-lien covenant-light term loan with price talk of Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

Included in the term loan is 101 soft call protection for one year.

The company's $170 million credit facility also provides for a $10 million five-year revolver.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to help fund the buyout of the company by Insight Venture Partners.

Commitments are due on April 23.

Campaign Monitor is a SaaS email marketing platform.

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