RealPage to launch $2.75B term loan to back buyout by Thoma Bravo

A Goldman Sachs-led arranger group has scheduled a lender call for 1 p.m. ET on Feb. 11 to launch a $2.75 billion first-lien term loan that will be used to support the buyout of RealPage Inc. by Thoma Bravo, according to sources.

Price talk for the term loan is not yet available, but financing will also include a $1 billion second-lien term loan that is being privately placed.

Credit Suisse, UBS, Apollo, Barclays, BMO Capital Markets, Deutsche Bank, KKR Capital Markets, Nomura, RBC Capital Markets, TB Credit, Truist Securities, Wells Fargo and Stone Point Capital Markets are bookrunners on the transaction.

The buyout of RealPage was announced Dec. 21, 2020, and Thoma Bravo will acquire the company in an all-cash transaction that values the company at roughly $10.2 billion. The transaction will take the Nasdaq-listed company private, with Thoma Bravo paying $88.75 per share. The equity contribution from Thoma Bravo is $7.36 billion, according to a company filing.

RealPage, based in Richardson, Texas, provides software data analytics to the real estate industry.

Article amended at 4:01 p.m. ET on Feb. 10, 2021, to update the group of bookrunners.