Aspect Software talks $488 million of term loans at Libor plus 400 bps

By Sara Rosenberg

New York, June 19 - Aspect Software Inc. launched on Wednesday its $488 million of term loan debt due May 2016 with price talk of Libor plus 400 basis points with a 1.25% Libor floor and an original issue discount of 991/2, according to a market source.

The term loans have 101 call protection for one year, the source said.

The debt consists of a $403 million term loan B and an $85 million delayed-draw term loan.

Commitments are due on June 27, the source added.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan and help fund a future acquisition.

Aspect Software is a Chelmsford, Mass.-based provider of customer contact and enterprise workforce optimization solutions.

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