Misys discloses price talk on $1.5 billion credit facility with launch

By Sara Rosenberg

New York, Sept. 19 – Misys released price talk on its $1.5 billion-equivalent credit facility in connection with its bank meeting on Monday, according to a market source.

The $200 million-equivalent five-year revolver and the $300 million-equivalent five-year term loan A are both talked at Libor/Euribor plus 250 basis points, the $300 million seven-year U.S. dollar term loan B is talked at Libor plus 325 bps to 350 bps with no Libor floor and an original issue discount of 99.5, and the $700 million seven-year euro-equivalent term loan B is talked at Euribor plus 350 bps to 375 bps with no floor and a discount of 99.5, the source said.

Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC are the joint coordinators on the deal and bookrunners with Bank of America Merrill Lynch, Barclays, Goldman Sachs Bank USA, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding Inc.

Commitments are due by Sept. 29, the source added.

Proceeds will be used to refinance the company’s existing loans.

Misys is a London-based provider of financial services software.

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