Genesys sets talk on $2.1 billion equivalent in term loan B debt

By Sara Rosenberg

New York, Nov. 10 – Genesys released price talk on its $1.55 billion seven-year covenant-light term loan B and $550 million equivalent seven-year covenant-light euro term loan B at Libor/Euribor plus 475 basis points to 500 bps with a 1% floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan B debt has 101 soft call protection for six months, the source said.

The company’s $2.25 billion equivalent credit facility (B-) also includes a $150 million five-year revolver.

Bank of America Merrill Lynch, Goldman Sachs Bank USA, Citigroup Global Markets Inc. and RBC Capital Markets LLC are the bookrunners on the debt that launched with bank meetings in New York this past Monday and in London this past Tuesday.

Commitments are due at 5 p.m. ET on Nov. 17, the source added.

Proceeds will be used to help fund the acquisition of Interactive Intelligence Group Inc. for $60.50 per share in cash and refinance existing debt. The transaction is valued at about $1.4 billion.

Closing is expected by the end of the year, subject to customary conditions, including regulatory approval and approval by Interactive Intelligence shareholders. The transaction is not contingent on financing.

Genesys is a Daly City, Calif.-based provider of omnichannel customer experience and contact center solutions. Interactive Intelligence is an Indianapolis-based provider of cloud and on-premise solutions for customer engagement, communications and collaboration.

© 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.