GGC Software plans $1.115 billion credit facility, $560 million notes

By Sara Rosenberg

New York, April 27 - GGC Software Holdings Inc.'s financing for the purchase of Lawson Software Inc. will include a $1.115 billion senior secured credit facility and $560 million of senior unsecured notes, according to an 8-K filed with the Securities and Exchange Commission late Tuesday.

Credit Suisse, Bank of America Merrill Lynch, Morgan Stanley Senior Funding, Inc., Royal Bank of Canada and Deutsche Bank Securities Inc. are the lead banks on the financing.

The credit facility consists of a $1.04 billion term loan and a $75 million revolver.

The bonds are backed by a commitment for a $560 million senior bridge loan.

Other funds for the transaction will come from up to $618 million of equity.

Under the agreement, GGC Software, an affiliate of Golden Gate Capital and Infor Global Solutions, is buying Lawson for $11.25 per share in cash. The acquisition is valued at about $2 billion.

The transaction is expected to close in the third quarter, subject to approval of Lawson's stockholders and regulatory approvals.

Lawson Software is a St. Paul, Minn.-based enterprise software developer. Infor is an Alpharetta, Ga.-based provider of business software and services.

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