Ivanti lifts incremental term loan B to $50 million, sets par price

By Sara Rosenberg

New York, Feb. 14 – Ivanti Software Inc. upsized its fungible incremental covenant-light term loan B due Jan. 20, 2024 to $50 million from $30 million and firmed the issue price at par, the tight end of the 99.75 to par talk, according to a market source.

Pricing on the incremental loan is Libor plus 425 basis points with a 1% Libor floor.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Proceeds will be used for general corporate purposes.

Ivanti, formerly known as LANDesk Software Group Inc., is a South Jordan, Utah-based user-centered IT management company.

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