Kofax releases talk on $1.03 billion and €300 million term loans

By Sara Rosenberg

New York, June 6 – Kofax launched on Monday its $1.025 billion seven-year first-lien term loan B (B2/B/BB-) with price talk of SOFR+10 basis points CSA plus 525 bps with a 0.5% floor and an original issue discount of 93 to 94, according to market source.

Also, the company launched its €300 million seven-year first-lien term loan B (B2/B/BB-) with talk of Euribor plus 525 bps with a 0% floor and a discount of 93 to 94, the source said.

Both term loans have 101 soft call protection for six months.

JPMorgan Chase Bank, Credit Suisse, UBS Securities, Jefferies LLC, Blackstone Credit, PSP Investments, Wells Fargo Securities LLC, Antares Capital, Security Benefit, BMO Capital Markets, Goldman Sachs, KKR Capital Markets, Stone Point Capital and Brinley Partners LP are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on June 14 for the U.S. term loan and at noon ET on June 14 for the euro term loan.

The company is also getting a $348 million privately placed second-lien term loan (Caa2/CCC+/CCC+).

Proceeds will be used to help fund the buyout of the company by Clearlake Capital Group LP and TA Associates from Thoma Bravo.

Closing is expected in the third quarter, subject to customary conditions.

Kofax is an Irvine, Calif.-based provider of intelligent automation software to facilitate digital workflow transformations.

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