DST Systems closes $125 million term loan for ALPS Holdings merger

By Aleesia Forni

Columbus, Ohio, Nov. 2 - DST Systems, Inc. entered into a new $125 million unsecured term loan, and proceeds to help fund it acquisition of ALPS Holdings Inc., according to an 8-K filing with the Securities and Exchange Commission.

The facility matures on Sept. 13, 2013, unless the company's Bank of the West Real Estate loan is no longer outstanding or has been extended.

In either case, the new facility would then mature on Oct. 28, 2013.

Interest is the rate on company's credit agreement dated April 16, 2010 less 50 basis points, with a minimum of Libor plus 125 bps.

With respect to the ALPS acquisition, DST paid stockholders of the company roughly $250 million in cash.

Bank of America NA is the sole lender.

DST is a Kansas City, Mo.-based provider of information processing, computer software services and business solutions.

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