Ivanti, an enterprise software company providing a comprehensive IT and security cloud-based platform, announced that it has closed a refinancing transaction. This was achieved by supporting an overwhelming majority of its existing lenders.
In connection with this deal, Ivanti raised $350 million of new capital and extended the maturity of its existing debt facilities to 2029, supporting its liquidity position and financial flexibility to support the company’s key strategic initiatives.
In the past year, Ivanti made substantial advancements to its products and processes, and the company’s strengthened financial foundation is expected to enhance its ability to invest in its solutions to empower customers’ business goals and provide seamless and flexible solutions built to address the evolving threat landscape.
The deal was open to all holders of its first and second-lien term loans.
Ivanti is backed by Clearlake Capital, Charlesbank Capital Partners, and TA Associates.
Advisors: Kirkland & Ellis and Evercore Group are serving as legal and financial advisors to Ivanti.
KEY QUOTES:
“We greatly appreciate the broad-based support from investors across our capital structure to reach this positive outcome, demonstrating their continued confidence in our business. With additional capital and extended debt maturities, we believe that we are well positioned to progress our ongoing transformation, provide customers with improved capabilities and security, and deliver long-term success.”
Dennis Kozak, CEO of Ivanti
