SS&C adds $1.53 billion of incremental loans to acquire Blue Prism

By Wendy Van Sickle

Columbus, Ohio, March 22 – SS&C Technologies Holdings Inc. added $1.53 billion of senior secured incremental term loans B on Tuesday under its credit agreement dated April 16, 2018, according to an 8-K filing with the Securities and Exchange Commission.

A new $650 million incremental loan B is available to subsidiary SS&C Technologies, Inc. and SS&C Financing LLC and a new $880 million incremental loan B is available to SS&C European Holdings SaRL.

Proceeds will be used to help fund the roughly $1.6 billion acquisition of Blue Prism Group plc.

The incremental loans mature on March 22, 2029 and bear interest at term SOFR plus a credit spread adjustment plus 225 basis points. There is a 0.5% term SOFR floor.

The incremental loans are also subject to a 1% repricing premium, which will be payable in connection with certain repricing transactions, if any, completed prior to the six-month anniversary of the incurrence of the incremental loans.

Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding, Inc., Barclays Bank plc and JPMorgan Chase Bank are the joint lead arrangers and bookrunners.

Citibank, NA, Deutsche Bank Securities Inc. and RBC Capital Markets are the co-managers.

Credit Suisse AG, Cayman Islands Branch is the administrative agent.

SS&C is a Windsor, Conn.-based provider of services and software for the financial services and health care industries. Blue Prism is a U.K.-based provider of intelligent automation for the enterprise.

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