Open Link Financial launches $325 million term B at Libor plus 400 bps

By Sara Rosenberg

New York, April 13 - Open Link Financial Inc. launched its $325 million seven-year term loan B on Wednesday with price talk of Libor plus 400 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The term loan B includes 101 soft call protection for one year.

The company's $375 million credit facility also provides for a $50 million five-year revolver.

Corporate and facility ratings are B1/B+, the source added.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC are the lead arrangers on the deal, with Bank of America the left lead.

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

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

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