Credit bigwigs back Thoma Bravo’s Nearmap deal

0

Four loan funds will pay up to $236 million ($369 million) to help finance Thoma Bravo’s bid for Australian mapping software company Nearmap.

The financiers – Bain Capital Credit, MS Capital Partners, Jefferies Credit Partners and Carlyle Global Credit Investment Management – formally made their commitments last week, and their funds will be used to acquire Nearmap and pay associated transaction costs and expenses.

Investors in ASX-listed Nearmap will vote next month on the company’s $1.06 billion plan of arrangement. Aerial imagery by Nearmap

The debt package comes with an equity commitment from Thoma Bravo, a major U.S. private equity firm, worth $1.055 billion, according to the Nearmap program book filed at the end of the week. last.

Thoma Bravo writes the check for Thoma Bravo Discover Fund IV, a $4.5 billion fund focused on investing in middle-market software and technology companies.

Thoma Bravo offered $2.10 per share for Nearmapor $1.055 billion, as part of an agreement to be concluded via a scheme of arrangement.

Nearmap shareholders were asked to vote on the deal in time for a November 25 plan meeting. Shares of the company were trading at $1.99 on Monday.

Share.

Comments are closed.