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Hyland Software talks $225 million loan at Libor plus 525 bps
By Sara Rosenberg
New York, Nov. 30 - Hyland Software is talking its $225 million credit facility at Libor plus 525 basis points with a 1.75% Libor floor and an original issue discount of 98 ahead of its Wednesday bank meeting, according to a market source.
The facility consists of a $20 million revolver and a $205 million term loan, the source said.
Credit Suisse and RBC are the lead banks on the deal.
Proceeds will be used to refinance existing debt and to fund a dividend.
Hyland Software is a Westlake, Ohio-based enterprise content management software vendor.
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