Ivanti Software completes $1.75B term loan repricing wide of talk; terms

Ivanti Software Inc. has completed the repricing of its $1.751 billion covenant-lite first-lien term loan due December 2027 that lowered the spread to L+425, from L+475, and the Libor floor to 0.75%, 1% floor, according to sources. The term loan priced at an original issue discount of 99.75 via a Morgan Stanley-led arranger group. The company is concurrently repricing its $175 million revolving credit facility and $545 million second-lien term loan due December 2028. BofA Securities is left lead on the second-lien repricing transaction. Ivanti Software, backed by Clearlake Capital Group, TA Associates and Charlesbank Capital Partners, provides software for managing networked devices.

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