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Epicor/Activant intend to start roadshow Wednesday for $465 million eight-year senior notes
By Paul A. Harris
Portland, Ore., May 3 - Dealers will begin a roadshow on Wednesday for Eagle Parent, Inc.'s $465 million offering of eight-year senior notes, according to an informed source.
Proceeds from the deal will be used to fund the merger of Epicor Software Corp. and Activant Group Inc.
A global investor call is scheduled for Thursday. The deal is set to price during the week ahead.
Merrill Lynch is the left lead bookrunner for the Rule 144A with registration rights offering. RBC Capital Markets is the joint bookrunner.
The notes come with four years of call protection and feature a 101% poison put.
Credit ratings remain to be determined.
Proceeds from the notes, as well as from a $945 million credit facility and $647 million in equity, will be used to fund Apax Partners' buyout of Epicor and Activant.
Epicor is an Irvine, Calif.-based provider of enterprise business software services. Activant is a Livermore, Calif.-based technology provider of ERP and point-of-sale software.
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