Aptean places $205 million of first- and second-lien term loans

By Sara Rosenberg

New York, Nov. 16 – Aptean got a $130 million privately placed first-lien delayed-draw term loan and a fungible $75 million privately placed incremental second-lien term loan, according to a market source.

The first-lien delayed-draw term loan will be fungible with the existing first-lien term loan upon draw and is priced at Libor plus 425 basis points with a 0% Libor floor, the source said.

Pricing on the incremental second-lien term loan is Libor plus 850 bps with a 0% Libor floor.

The full first-lien term loan has 101 soft call protection for six months and the second-lien term loan has 101 hard call protection until April 2021.

Golub Capital was the left lead arranger on the deal and is the administrative agent.

Proceeds will be used for three acquisitions.

Pro forma for the transaction, the first-lien term loan is $747 million and the second-lien term loan is $262 million.

Aptean is an Alpharetta, Ga.-based provider of mission-critical enterprise software solutions.

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