Dye & Durham launches $367 million term loan B at SOFR plus 450 bps

By Sara Rosenberg

New York, March 21 – Dye & Durham launched on Thursday its $367 million seven-year senior secured term loan B with price talk of SOFR plus 450 basis points with a 1% floor and an original issue discount of 98, according to a market source.

The term loan has 101 soft call protection for six months, no CSA and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Commitments are due at noon ET on April 4, the source added.

Proceeds will be used with $500 million of other secured debt to refinance the company’s existing first-lien capital structure and repay convertible debentures due 2026.

In addition to the term loan, the company plans on getting a new senior secured revolving credit facility.

Dye & Durham is a provider of cloud-based software and technology solutions to law firms.

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