EagleView releases talk on $360 million credit facility with launch

By Sara Rosenberg

New York, July 14 – EagleView Technology Corp. disclosed price talk on its $360 million senior secured credit facility that launched with a bank meeting on Tuesday, according to a market source.

The $20 million five-year revolver (B2/B) is talked at Libor plus 375 basis points with no floor, the $240 million seven-year first-lien covenant-light term loan B (B2/B) is talked at Libor plus 425 bps to 450 bps with a 1% Libor floor and an original issue discount of 99, and the $100 million eight-year second-lien covenant-light term loan (Caa2/CCC+) is talked at Libor plus 800 bps to 825 bps with a 1% Libor floor and a discount of 98.5, the source said.

The revolver and first-lien term loan have a leverage-based pricing grid.

Call protection on the first-lien term loan B is a 101 soft call for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two, the source continued.

The revolver includes a springing first-lien net leverage covenant.

Morgan Stanley Senior Funding Inc. and Nomura Securities International Inc. are the joint lead arrangers and bookrunners on the deal.

Commitments are due on July 28, the source added.

Proceeds will be used to help fund the buyout of the company by Vista Equity Partners.

EagleView is a Bothell, Wash.-based technology provider of aerial imagery, data analytics and GIS solutions.

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