Genesys updates U.S. and euro term loan tranche sizes, pricing

By Sara Rosenberg

New York, Jan. 30 - Genesys set the break down of its $675 million equivalent first-lien term loan (B1) at $505 million and €125 million, whereas before, the euro tranche was expected to carry a size of €100 million, according to a market source.

In addition, pricing on the U.S. term loan was reduced to Libor plus 300 basis points from talk of Libor plus 350 bps to 375 bps and the Libor floor was trimmed to 1% from 1.25%, the source said.

Furthermore, pricing on the euro tranche is Euribor plus 375 bps, revised from earlier talk of 25 bps to 50 bps wide of the U.S. tranche, and the Euribor floor was cut to 1% from 1.25%, the source continued.

The term loans are still being offered at an original issue discount of 99 and still have 101 soft call protection for one year.

Recommitments are due at noon ET on Thursday.

Goldman Sachs & Co., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets LLC are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

Genesys is a Daly City, Calif.-based supplier of contact center technology software.

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