Open Link's mezzanine debt downsized; proceeds will be used for buyout

By Lisa Kerner

Charlotte, N.C., Oct. 24 - Open Link Financial Inc. will used $175 million of mezzanine debt to help fund the buyout of the company by Hellman & Friedman from the Carlyle Group, according to a market source.

The debt was downsized from $190 million due to the upsizing of Open Link's first-lien term loan to $340 million from $325 million, which will also be used to fund the buyout.

The closing of the buyout is expected in the fourth quarter, subject to standard conditions.

Open Link is a Uniondale, N.Y.-based provider of cross-asset trading, risk management and operations processing software services.

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