We advised the lead arrangers, initial lenders and initial purchasers on the financing

Davis Polk advised (i) the first administrative agent and collateral agent, and the initial lenders in connection with a $2.5 billion senior secured term loan A facility, a $4.1 billion senior secured USD term loan B facility, a €500 million senior secured EUR term loan B facility and a $1 billion revolving credit facility, (ii) the second administrative agent and collateral agent, and the initial lenders in connection with a $3.8 billion second-lien bridge facility and (iii) the representative of the initial purchasers, on a Rule 144A / Regulation S offering by TIBCO Software Inc. of $4 billion aggregate principal amount of its 6.50% senior secured notes due 2029. The net proceeds of the notes, together with borrowings under new credit facilities and proceeds from the sale of preferred stock, were provided to a consortium led by Vista Equity Partners Management LLC and Evergreen Coast Capital Corp., in connection with their acquisition of Citrix Systems, Inc. Citrix will be combined with TIBCO Software Inc., an existing portfolio company of Vista Equity Partners Management LLC.

Vista Equity Partners Management, LLC is a U.S.-based investment firm with more than $96 billion in assets under management, focused on investing in software, data and technology-enabled organizations.

Elliott Investment Management, L.P. manages more than $55 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. Evergreen Coast Capital Crop is the private equity arm of Elliott Investment Management, L.P.

Citrix is an enterprise software company focused on helping customers improve the productivity and user experience of their most valuable assets, their employees. Citrix does this by creating a digital workspace that provides unified, secure and reliable access to all applications and content employees need to be productive – anytime, anywhere, on any device.

TIBCO is an intelligence software company that provides data management software for businesses, founded in 1977.

The Davis Polk finance team included partner Jason Kyrwood, counsel Demian von Poelnitz, and associates Bernard Tsepelman, Jeffrey Hon, Charlie Russak, Matthew Vallade and Erin Guiltinan. The Davis Polk capital markets team included partner John B. Meade, counsel Hillary A. Coleman and associates Soo Kyung Chae, Michael A. Schuster, Anmol Sheth and Moran Levy Tepman. Members of the Davis Polk team are based in the New York office.

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