Banks Launch $5.5B Loan for Thoma Bravo's Dayforce Buyout

A Goldman Sachs-led syndicate of banks launched a $5.5 billion leveraged loan facility on Wednesday to finance Thoma Bravo's acquisition of Dayforce Inc., a human-resources software provider, according to Bloomberg. Following a lender call on Thursday, initial pricing guidance for the loan was released. The proposed terms include a margin of up to 3.5 percentage points above the Secured Overnight Financing Rate (SOFR), with the loan offered at a discount of 99.5 cents on the dollar, according to sources familiar with the deal. Lender commitments are due by October 7.