Allen Systems sets structure on $340 million facility as deal launches

By Sara Rosenberg

New York, May 22 - Allen Systems Group Inc.'s $340 million credit facility structure surfaced as the transaction was launched with a bank meeting on Tuesday, according to a market source.

BMO Capital is the lead bank on the deal.

Tranching on the deal is comprised of a $75 million revolver and a $265 million term loan, the source said.

Proceeds will be used to help fund the acquisition of Mobius Management Systems, Inc., a Rye, N.Y.-based provider of integrated services for enterprise archiving and records management, for $10.05 per share in cash.

Allen Systems is a Naples, Fla.-based enterprise software provider.

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