Azurite gets $1.8 billion term loan commitment, $200 million revolver

By Marisa Wong

Los Angeles, Feb. 14 – Azurite Intermediate Holdings, Inc. announced a senior secured credit facility consisting of a $1.8 billion commitment with respect to initial term loans and delayed-draw term loans and a $200 million revolving credit facility, according to a press release.

The credit facility will be secured by substantially all assets of Azurite and its domestic subsidiaries, including Alteryx, Inc., which Azurite will acquire under a merger agreement dated Dec. 18.

Amounts borrowed under the credit facility will initially bear interest at term SOFR plus 650 basis points.

At the closing of the merger, Azurite expects the credit facility to consist of $1.8 billion of initial term loans less the aggregate principal amount of Alteryx’s outstanding convertible notes and the aggregate principal amount of notes, if any, that will remain outstanding after expiration of Azurite’s tender offer for Alteryx’s 8¾% senior notes due 2028.

Azurite intends to use a portion of the proceeds from the credit facility to fund the tender offer, which is conditioned on completion of the merger.

Santa Monica, Calif.-based Azurite expects to complete the merger in the first or second quarter of 2024. Alteryx is an Irvine, Calif.-based computer software company.

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