Epiq Systems gets $400 million new senior revolver, secured term loan

By Tali David

Minneapolis, Aug. 30 - Epiq Systems, Inc. entered into a $100 million senior revolving loan maturing in August 2018 and a $300 million senior secured term loan maturing in August 2020, according to an 8-K filed with the Securities and Exchange Commission.

During the term of the credit facility, Epiq has the right to increase the borrowings up to a maximum of $200 million. The facility is secured by liens on Epiq's real property and a significant portion of Epiq's personal property.

Revolver borrowings bear interest at Libor rate plus 300 bps to 400 bps.

The senior secured term loan bears interest at (a) 2.75% plus prime rate, subject to a 2% floor, or 3.75% plus one-, two-, three- or six- month Libor rate, subject to a 1% Libor floor.

KeyBank National Association, PNC Bank National Association and Silicon Valley Bank are joint lead arrangers.

Epiq is a provider of technology-enabled services for electronic discovery, bankruptcy and class action administration.

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