SolarWinds Sets $1.5B Leveraged Loan Backing LBO by Silver Lake, Thoma Bravo

Arrangers Goldman Sachs, Credit Suisse, Nomura, and Macquarie have set lender meetings next week in New York and London to launch its roughly $1.5 billion first-lien term loan financing backing Silver Lake Partners and Thoma Bravo $4.5 billion purchase of publicly traded IT-management-software provider SolarWinds. The New York meeting is set for Wednesday, Jan. 13 at 1 p.m. EST, while the London meeting kicks off on Thursday, Jan. 14 at 11 a.m. GMT.

Goldman’s mezzanine fund has taken the $580 million junior debt piece, according to sources.

The seven-year covenant-lite term loan deal has garnered early momentum via a recent early look round, sources said.

The purchase price represents a 43.5% premium to the closing price of SolarWinds’ common stock on Oct. 8, 2015, one day prior to the company’s announcement that it was exploring strategic alternatives. The transaction, which is expected to close in the first calendar quarter of 2016, is subject to approval by SolarWinds stockholders, regulatory approvals, and other customary closing conditions. — Chris Donnelly

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