Misys completes new £210 million three-year credit facility

By Sara Rosenberg

New York, May 27 - Misys plc closed on a new £210 million three-year credit facility, according to a news release.

Barclays Capital, HSBC Bank, the Royal Bank of Scotland, Yorkshire Bank and KFW IPEX-Bank GMBH arranged the deal, with Royal Bank of Scotland the coordinating agent.

The facility consists of an £80 million term loan and a £130 million multi-currency revolver at Libor plus a margin that can range between 250 basis points and 350 bps.

Proceeds are being used to help repay in full the drawings under the company's previous $150 million revolver and $190 million ValueAct Capital subordinated loan as well as for general corporate purposes.

Misys is a London-based provider of integrated, comprehensive services to organizations in the financial services and health care industries.

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