Genesys moves funds between U.S., euro term loans, updates pricing

By Sara Rosenberg

New York, Oct. 8 – Genesys reduced its seven-year U.S. term loan B to $2.7 billion from $2.825 billion and increased its seven-year euro term loan B to €555 million ($650 million equivalent) from $525 million euro equivalent, according to a market source.

In addition, pricing on the U.S. term loan firmed at Libor plus 400 basis points, the low end of the Libor plus 400 bps to 425 bps talk, and pricing on the euro term loan firmed at Euribor plus 425 bps, the low end of the Euribor plus 425 bps to 450 bps talk, the source said.

Furthermore, the original issue discount talk on the euro term loan was changed to a range of 99 to 99.5 from 98.

The U.S. term loan still has a 0.75% Libor floor and an original issue discount of 99, the euro term loan still has 0% floor, and both loans still have 101 soft call protection for six months.

BofA Securities Inc., Goldman Sachs Bank USA, Citigroup Global Markets Inc., RBC Capital Markets, Wells Fargo Securities LLC and Credit Suisse Securities (USA) LLC are the leads on the $3.35 billion equivalent of term loans (B3/B-).

Recommitments were scheduled to be due at 11 a.m. ET on Thursday, the source added.

Proceeds will be used to refinance existing debt and fund a dividend.

Genesys is a Daly City, Calif.-based provider of omnichannel customer experience and contact center solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.