SS&C Technologies firms $1 billion add-on term B-5 at 99.75 OID

By Sara Rosenberg

New York, Oct. 23 – SS&C Technologies Holdings Inc. finalized the original issue discount on its $1 billion add-on covenant-light term loan B-5 due April 2025 at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

The term loan B-5 is priced at Libor plus 225 basis points with a step-up to Libor plus 250 bps at 4.75 times net secured leverage, which is expected pro forma for the Intralinks acquisition, and a 0% Libor floor.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and RBC Capital Markets are the leads on the deal.

Proceeds will be used to help fund the acquisition of Intralinks Holdings Inc. from Siris Capital Group for $1.5 billion, split between $1 billion in cash and $500 million in SS&C stock.

Closing is expected on Nov. 15.

SS&C is a Windsor, Conn.-based provider of investment and financial software-enabled services and software for the financial services and health care industries. Intralinks is a New York-based financial technology provider for the banking, deal making and capital markets communities.

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