SonicWall to launch extended and upsized credit facilities Thursday

By Sara Rosenberg

New York, Aug. 2 – SonicWall Inc. will hold a lender call at noon ET on Thursday to launch an amendment, extension and upsizing of its existing first-lien credit facilities, according to a market source.

UBS Investment Bank is the left lead arranger on the deal.

The first-lien term loan has 101 soft call protection for six months, the source said.

There will be a cashless roll option for existing lenders.

Proceeds from the upsized amount will be used to refinance a portion of the company’s second-lien term loan and to pay associated premiums, fees and expenses.

The borrowers are SonicWall US Holdings Inc. and SonicWall International LLC.

SonicWall is a Milpitas, Calif.-based provider of network security solutions focused on securing mid-market enterprises as well as campus and distributed networks.

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