Jaggaer readies launch of $410 million credit facilities for Monday

By Sara Rosenberg

New York, Nov. 29 – Jaggaer is set to hold a bank meeting in New York on Monday to launch $410 million of senior secured credit facilities, according to a market source.

Antares Capital is the lead on the deal.

The facilities consist of a $25 million five-year revolver and a $385 million seven-year covenant-light term loan, the source said.

Proceeds will be used to help fund the acquisition of BravoSolution from Italmobiliare SpA.

Jaggaer, a portfolio company of Accel-KKR, is a Morrisville, N.C.-based spend management technology company. BravoSolution is a strategic procurement solution provider.

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