Misys outlines talk on $5.75 billion four-part deal; TierPoint talks $920 million

By Paul A. Harris

Portland, Ore., April 18 – In Tuesday's leveraged loan market Misys Ltd. set tranche sizes and price talk in its $5.75 billion equivalent amount of senior secured credit facilities.

A $400 million five-year revolver is talked at Libor plus 350 basis points to 375 bps with a 0% Libor floor.

A $3.12 billion seven-year first lien term loan B is talked at Libor plus 350 bps to 375 bps atop a 1% Libor floor at 99 to 99.5.

A €1 billion seven-year first-lien term loan B is talked at Euribor plus 400 bps to 425 bps, with a 0% Euribor floor, at 99 to 99.5.

An $850 million eight-year second-lien loan is talked at Libor plus 775 bps to 800 bps atop a 1% Libor floor, at 98.5.

A €280 million eight-year second-lien term loan is talked at Euribor plus 725 bps to 750 bps atop a 1% Euribor floor at 98.5.

And TierPoint, LLC set price talk in its $920 million of credit facilities.

The deal includes a $700 million seven-year first-lien loan (B2/B+/BB) talked at Libor plus 325 basis points to 350 bps atop a 1% Libor floor at 99.5. RBC Capital Markets LLC is the left bookrunner for the tranche.

A $220 million eight-year second-lien loan (Caa2/CCC+/B-) is talked at Libor plus 725 bps to 750 bps atop a 1% Libor floor at 99. Credit Suisse Securities (USA) LLC is the left bookrunner for the tranche.

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