Allen Systems talks $300 million six-year notes with 10½% area yield

By Paul A. Harris

St. Louis, Nov. 10 - Allen Systems Group Inc. talked its $300 million offering of six-year senior secured second-lien notes (B3) with a 10½% area yield on Wednesday, according to an informed source.

The books close at 10 a.m. ET on Friday, and the deal is set to price thereafter.

Bank of America Merrill Lynch has the books for the Rule 144A for life offering.

The Naples, Fla.-based enterprise software provider plans to use the proceeds to refinance debt and to fund a dividend.

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