Ancile Solutions launches $165 million facility at Libor plus 450 bps

By Sara Rosenberg

New York, June 12 - Ancile Solutions Inc. launched on Wednesday a $165 million five-year credit facility that is talked at Libor plus 450 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The facility consists of a $10 million revolver and a $155 million term loan.

Commitments are due on June 26, the source added.

BMO Capital Markets and Madison Capital are leading the deal.

Proceeds will be used to refinance existing debt and fund a dividend.

Ancile Solutions is an Elkridge, Md.-based provider of best-in-class learning and performance software solutions.

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