Genesys widens pricing on $1.58 billion and €528 million term loans

By Sarah Lizee

Olympia, Wash., Feb. 23 – Genesys (GenesysTelecommunications Laboratories Inc.) finalized pricing on its $1.58 billion covenant-light term loan B due Dec. 1, 2023 and €528 million covenant-light term loan B due Dec. 1, 2023 at Libor/Euribor plus 350 basis points, widened from talk of Libor/Euribor plus 325 bps, according to a market source.

The term loans still have a 0% floor and a par issue price.

The dollar tranche has a step down to Libor plus 325 bps at net leverage of 4.0 times or less.

As before, the term loans include 101 soft call protection for six months.

Amortization is still 1% per annum.

Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the lead arrangers on the deal.

Commitments were due at noon ET on Friday and allocations start Monday, the source added.

Proceeds will be used to reprice existing U.S. and euro term loans.

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

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