ECi Software shops $710 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, Sept. 10 – ECi Software Solutions is talking its $710 million first-lien term loan (B2/B-) at Libor plus 400 basis points to 425 bps with a 0.75% Libor floor and an original issue discount of 98.5 to 99, according to a market source.

The first-lien term loan has 101 soft call protection for six months.

BofA Securities, Inc. is the left lead on the deal that launched with a call on Wednesday.

The company is also getting a $280 million privately placed second-lien term loan (Caa2/CCC).

Proceeds will be used to refinance existing term loans, fund an acquisition and finance a dividend payment.

ECi is a Fort Worth-based provider of cloud-based business management software for multiple industries.

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