Golub Capital acted as administrative agent, left lead arranger and joint bookrunner on a $3.4 billion unitranche facility for Hyland Software. The proceeds will be used to refinance Hyland’s existing, broadly syndicated debt, which is made up of a first lien loan, second lien loan and revolving credit facility.
Hyland provides enterprise content management software to corporate clients worldwide and has been a portfolio company of Thoma Bravo since 2007.
“We are excited to provide leadership on a compelling private financing solution to Hyland, a premier provider of B2B software backed by a premier sponsor,” Spyro Alexopoulos, co-head of direct lending at Golub Capital, said. “We were able to offer an efficient execution at a competitive rate in support of the company’s financing needs.”
The unitranche facility includes a $3.25 billion term loan and a $150 million multi-currency revolver.
“The speed and certainty of working with Golub Capital on this transaction is a testament to the firm’s depth of unitranche experience and software expertise,” Erwin Mock, managing director and head of capital markets at Thoma Bravo, said.
In the past 12 months, Golub Capital has completed more than 55 platform and add-on transactions with software and technology companies. The firm acted as a lead agent in over 85% of these deals.
