Citrix has slated a lender call for Tuesday, Sept. 13, at 10:30 a.m. ET for a proposed $4 billion offering of 6.5-year (non-call three) senior secured notes via a Credit Suisse-led bookrunner group, according to market sources. Pricing for the 144A/Reg S transaction is slated for Monday, Sept. 19.

The notes will be via issuing entity Picard Midco Inc. The transaction features a first call at par plus 50% of the coupon rate, an up-to-40% equity clawback for the first three years, and a change-of-control put provision, at 101.

Bookrunners also include BofA, Goldman Sachs, Barclays, Citi, Deutsche Bank, KKR, Mizuho, Morgan Stanley, RBC Capital Markets, Apollo, Jefferies, BMO, BNP, Guggenheim, HSBC, Macquarie, Nomura, Truist, UBS, Wells Fargo, Keybank, MUFG, Scotiabank, Societe Generale, Stifel, SPC, TD, FITB, ING, IMI, Natixis, Santander, and US Bancorp.

Citrix last week announced a $4.55 billion-equivalent cross-border term loan backing Vista Equity and Evergreen Coast Capital’s $16.5 billion buyout of Citrix and merger with Vista portfolio company Tibco Software. The 6.5-year loan is guided to be split between $4.05 billion in dollars and a $500 million-equivalent euro-denominated tranche.

Proceeds of the proposed bond offering — together with the proceeds of the issuance of the second-lien debt, borrowings under new senior secured credit facilities, the proceeds of a preferred stock offering and equity contributions from funds affiliated with the investors — will be used to pay the cash consideration for the merger; to finance the repayment of substantially all of Citrix’s and Tibco's existing outstanding indebtedness; to pay any related premiums, fees and expenses; and for general corporate purposes.

Citrix shareholders approved the $104-per-share in cash offer in April and the deal is expected to close in the third quarter on receipt of final regulatory approvals, according to a July update. Citrix Systems is an enterprise software company that provides workspace, app delivery and security, and professional services worldwide. Tibco Software is a global provider of infrastructure and business intelligence software.

This article originally appeared on PitchBook News