Financing for acquisition of Sandvine Corporation by affiliate of Francisco Partners

On September 21, 2017, Procera Networks, Inc. (“Procera”), an affiliate of Francisco Partners closed the arrangement of US$430 million of senior secured credit facilities made available to finance Procera’s acquisition of Sandvine Corporation. The facilities consisted of a US$400 million first lien term loan facility and a US$30 million first lien revolving credit facility.

The acquisition of Sandvine Corporation by Procera Networks, Inc. was done via PNI Acquireco Corp. through a plan of arrangement.

McCarthy Tétrault LLP acted as Canadian counsel to JPMorgan Chase Bank, N.A. in connection with the credit facility.