Allen Systems revises OID on $115 million term loan add-on to 99½

By Sara Rosenberg

New York, May 11 - Allen Systems Group Inc. moved the original issue discount on its $115 million term loan add-on (Ba2/BB-) to 99½ from 99, according to a market source.

The add-on is priced in line with the existing term loan at Libor plus 475 basis points with a 1.75% Libor floor.

Bank of America Merrill Lynch and KeyBanc Capital Markets LLC are the lead banks on the deal.

Proceeds will be used to help fund the acquisition of visionapp AG, a Germany-based provider of software and services for private, public and hybrid cloud services.

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

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