MSC.Software launches $215 million term loan at discount of 99

By Sara Rosenberg

New York, July 28 - MSC.Software Corp. launched its $215 million six-year term loan on Thursday with an original issue discount of 99, according to a market source.

As was previously reported, price talk on the term loan is Libor plus 500 basis points with a 1.5% Libor floor, and there is 101 soft call protection for one year.

The company's $235 million credit facility also includes a $20 million revolver.

Bank of America Merrill Lynch is the lead bank on the deal.

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

MSC.Software is a Santa Ana, Calif.-based provider of multidiscipline simulation solutions that accelerate product innovation.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.