Inmar sets Tuesday bank meeting for $415 million covenant-light loan

By Paul A. Harris

Portland, Ore., Jan. 18 – Inmar, Inc. set a bank meeting at noon ET on Tuesday to kick off its $415 million covenant-light first-lien term loan due May 1, 2024, according to a market source.

Credit Suisse, Jefferies, Wells Fargo and Deutsche Bank are the arrangers.

The spread and issue price remain to be determined.

The spread will float atop a 1% Libor floor.

The deal comes with 101 soft call protection for six months.

Credit ratings remain to be determined.

Commitments are due at 5 p.m. ET on Jan. 30.

The Winston-Salem, N.C.-based technology company plans to use the proceeds to fund its acquisition of You Technology, a Cincinnati-based digital coupon and digital rebate publishing unit owned by Kroger.

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