Concerto $475 million credit facility now expected as late third-quarter business

By Sara Rosenberg

New York, July 20 - Concerto Software is now anticipating launching its $475 million six-year first-lien senior credit facility late in the third quarter as opposed to the previously expected timeframe of late-July, according to a market source.

JP Morgan and Deutsche Bank Securities are the lead banks on the deal, with Wells Fargo Foothill acting as documentation agent.

The facility is expected to consist of a $425 million term loan B and a $50 million revolving credit facility.

Proceeds from the first-lien term loan, along with proceeds from a $250 million 61/2-year second-lien term loan, will be used to help fund the acquisition of Aspect Communications Corp.

The second-lien term loan is being led by JP Morgan and Lehman Brothers, with D.B. Zwirn Finance acting as administrative agent.

This second-lien tranche was pre-syndicated to various investors so there will be no further marketing effort on that front.

Concerto, a Westford, Mass.-based portfolio company of Golden Gate Capital that provides contact center software and services, is purchasing Aspect for $1 billion. Golden Gate and Oak Investment will contribute equity toward the deal.

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