Operative credit facilities
We advised the agent, joint lead arranger and lead lender on the transaction
Davis Polk advised the administrative agent, collateral agent and joint lead arranger in connection with a new senior credit facility for Operative Media, a portfolio company managed by Francisco Partners.
Operative is a vertically focused software provider, selling solutions into the media ecosystem that are designed to enable media publishers to manage their ad revenue sales across all media types. Proceeds of the loan were used to refinance existing indebtedness.
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential.
The Davis Polk finance team was led by partner Nicholas A. Palumbo and counsel Zachary R. Frimet and included associate Jonathan Morford. Partner Nick Benham and associate Joshua Bunn provided U.K. law advice. Partner Michael Farber and associates Charles Collier and Michael Hsieh provided tax advice. Members of the Davis Polk team are based in the New York and London offices.