Infoblox launches $497.5 million term loan at Libor plus 425-450 bps

By Sara Rosenberg

New York, Jan. 4 – Infoblox Inc. launched on its call on Thursday a $497.5 million first-lien term loan that is talked at Libor plus 425 basis points to 450 bps with a 1% Libor floor and a par issue price, according to a market source.

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

Bank of America Merrill Lynch is the lead bank on the deal.

Commitments are due on Wednesday, the source added.

Proceeds will be used to reprice an existing first-lien term loan down from Libor plus 500 bps with a 1% Libor floor.

Infoblox is a Santa Clara, Calif.-based provider of Actionable Network Intelligence to enterprise, government and service provider customers.

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