Perforce Software revises $375 million term loan OID to 99.5

By Sara Rosenberg

New York, March 25 – Perforce Software LLC tightened the original issue discount on its non-fungible $375 million incremental first-lien term loan (B2/B-) to 99.5 from 99 according to a market source.

Pricing on the incremental term loan remained at SOFR plus 475 basis points with no floor, and the debt still has 101 soft call protection for six months and no CSA.

Antares Capital is the lead arranger on the deal.

Proceeds will be used to fund an acquisition and pay down outstanding revolving credit facility borrowings.

Perforce Software, backed by Francisco Partners and Clearlake Capital, is a Minneapolis-based developer of software used for application development.

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