Micro Focus International plc announced the launch of a $1.6 billion equivalent Senior Secured Term Loan B refinancing (the "Transaction"). The proceeds of the offering will be used to refinance a portion of its existing Senior Secured Term Loan B facilities due June 2024 and pay fees and expenses in connection with the Transaction. Upon completion, the Transaction will replace the existing Senior Secured Term Loan B Euro facility due June 2024 as well as partially refinance the existing Senior Secured Term Loan B USD facility due June 2024 with new 5-year Senior Secured Term Loan B facilities.

The Company will raise a combination of Euro and U.S. dollar dominated Term Loans with a minimum intended tranche size of €442 million and USD 1,100 million. The initial price talk for the new facilities is anticipated to be between 4.00%-4.25% above EURIBOR (subject to a 0% floor) at an original issue discount of 0.5% on the Euro denominated tranche, and between 3.75%-4.00% above SOFR and CSA (subject to a 0.5% floor) at an original issue discount of 1.0% on the U.S. Dollar denominated tranche.