Banks Sell $1 Billion of Loans to Fund Buyout of Jaggaer

Banks led by UBS Group AG sold $1 billion of leveraged loans to help finance Vista Equity Partners’ buyout of software company Jaggaer, the market’s latest acquisition deal to include a second-lien component.

The debt package consists of first- and second-lien term loans plus a $150 million revolving credit facility, according to a person familiar with the matter asked not to be identified because the information was private.

The $825 million first-lien tranche priced Tuesday at 3.25 percentage points above the Secured Overnight Financing Rate, the person said. It was issued at 99.75 cents on the ...