Momentive Global plans $450 million of debt financing for buyout

By Sara Rosenberg

New York, March 14 – Momentive Global Inc. has received a commitment for $450 million of debt financing to help fund its acquisition by a consortium led by Symphony Technology Group and to refinance its existing credit facilities, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Silver Point provided the debt commitment and acted as sole lead arranger on the financing.

Other funds for the transaction will come from about $1.17 billion of equity.

Under the agreement, Momentive is being bought for $9.46 per share. The all-cash transaction values Momentive at about $1.5 billion.

Closing is expected in the second or third quarter, subject to customary conditions, including approval by Momentive shareholders and regulatory approvals. The transaction is not subject to a financing condition.

Momentive, maker of SurveyMonkey, is a provider of insights management solutions based in San Mateo, Calif.

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