Bloomberg News

Blue Coat Seeks $465 Million in Loans for Thoma Bravo Buyout

December 13, 2011

Dec. 12 (Bloomberg) -- Blue Coat Systems Inc., a provider of web security solutions, is seeking $465 million in loans to back its buyout by Thoma Bravo LLC.

The financing will include a $415 million term loan and a $50 million revolving line of credit, according to a Dec. 9 regulatory filing.

Jefferies Group Inc. is arranging the financing for the Sunnyvale, California-based company.

The investor group led by San Francisco-based Thoma Bravo agreed to buy Blue Coat in a deal valued at approximately $1.3 billion. The buyout firm is taking the company private for $25.81 per share, according to a Dec. 9 company statement.

Amber Roberts, a spokeswoman for Thoma Bravo, didn’t respond to an e-mail seeking comment.

In a revolving credit facility, money can be borrowed again once it’s repaid; in a term loan, it can’t.

--Editors: Faris Khan, Pierre Paulden

To contact the reporter on this story: Michael Amato in New York at mamato3@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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