...- Thoma Bravo LP has entered into a definitive agreement to acquire a majority of the equity of software management solutions provider Flexera Software LLC from its existing owners. - Flexera is seeking to raise a new $65 million revolving credit facility maturing February 2025, an incremental $285 million 7-year first-lien term loan maturing January 2028, as well as a new $260 million 8-year second-lien term loan maturing December 2028 in order to partially fund Thoma Bravo's acquisition. - The new incremental first-lien term loan will be non-fungible with the existing first-lien term loan maturing in 2025. - We are affirming all our ratings on Flexera, including our 'B-' issuer credit rating and 'B-' issue-level rating on its first-lien debt, and assigning our 'B-' issue-level rating to the new first lien revolver and term loan. - The outlook is stable, reflecting our expectation that Flexera will sustain revenue growth and maintain EBITDA margins and sufficient cash flow generation,...
