End-User Computing talks $2.6 billion loan at SOFR plus 400-425 bps

By Sara Rosenberg

New York, April 3 – End-User Computing (Modena Buyer LLC) launched on Wednesday its $2.6 billion seven-year first-lien term loan with price talk of SOFR plus 400 basis points to 425 bps with a 0% floor and an original issue discount of 98.5, according to a market source.

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

The company’s $2.86 billion of credit facilities (B) also include a $260 million five-year revolver.

UBS Investment Bank, KKR Capital Markets, Jefferies LLC, Citigroup Global Markets Inc., Natixis, SMBC and Bank of Nova Scotia are the arrangers on the deal.

Commitments are due at 5 p.m. ET on April 17, the source added.

Proceeds will be used to help fund the buyout of the company by KKR from Broadcom Inc. in a transaction valued at about $4 billion.

Closing is expected this year, subject to customary conditions, including regulatory approvals.

End-User Computing is a Toledo, Ohio-based provider of digital workspace solutions that allow organizations to securely deliver and manage applications, desktops and data across any device or platform.

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