Applied Systems to launch $1.58 billion credit facilities on Wednesday

By Sara Rosenberg

New York, Sept. 5 – Applied Systems Inc. will hold a lender call at 2 p.m. ET on Wednesday to launch $1,575,000,000 of credit facilities, according to a market source.

Nomura, Jefferies LLC and Macquarie Capital (USA) Inc. are the arrangers on the deal.

The facilities consist of a $50 million five-year revolver, a $1.03 billion seven-year first-lien term loan B and a $495 million eight-year second-lien term loan, the source said.

Proceeds will be used to refinance existing debt, fund a distribution to shareholders and pay fees and expenses.

Applied Systems, a Hellman & Friedman portfolio company, is a University Park, Ill.-based cloud software provider to the property & casualty and benefits insurance industry.

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