SS&C launches $2.78 billion term loan B-8 at SOFR plus 200-225 bps

By Sara Rosenberg

New York, April 29 – SS&C Technologies Inc. was scheduled to hold a lender call at noon ET on Monday to launch a $2.775 billion seven-year senior secured covenant-lite first-lien term loan B-8 (Ba1/BB+) that is talked at SOFR plus 200 basis points to 225 bps with a 0% floor and an original issue discount of 99.5 to 99.75, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc., Barclays, UBS Investment Bank, Goldman Sachs Bank USA, Citigroup Global Markets Inc., BofA Securities Inc., JPMorgan Chase Bank, Jefferies LLC, Deutsche Bank Securities Inc., TD Securities (USA) LLC, HSBC Securities (USA) Inc., RBC Capital Markets, BNP Paribas Securities Corp., UMB, MUFG and NatWest are the bookrunners on the deal. Morgan Stanley is the agent.

Commitments are due at noon ET on Thursday, the source added.

Proceeds will be used with unsecured debt to refinance the company’s existing term loans B-3, B-4 and B-5 due 2025.

SS&C is a Windsor, Conn.-based provider of services and software for the financial services and health care industries.

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