New Issue: SS&C Technologies sells $205 million eight-year notes to yield 11¾%

By Paul A. Harris

St. Louis, Nov. 17 - SS&C Technologies, Inc. priced a $205 million issue of eight-year senior subordinated notes (Caa1/CCC+) at par to yield 11¾% on Thursday, according to a market source.

The yield came at the wide end of the 11½% to 11¾% price talk.

Wachovia Securities, JP Morgan and Banc of America Securities LLC were joint bookrunners for the Rule 144A with registration rights offering.

Proceeds will be used to help fund the $982 million leveraged buyout of the company by The Carlyle Group.

The issuer is a Windsor, Conn., company which delivers investment and financial management software and related services focused exclusively on the financial services industry.

Issuer:	SS&C Technologies, Inc.
Amount:	$205 million
Maturity:	Dec. 1, 2013
Security description:	Senior subordinated notes
Bookrunners:	Wachovia Securities, JP Morgan, Banc of America Securities LLC
Coupon:	11¾%
Price:	Par
Yield:	11¾%
Spread:	730 basis points
Call features:	Make-whole call at Treasuries plus 50 basis points until Dec. 1, 2009, then callable at 105.875, 102.938, par on and after Dec. 1, 2011
Equity clawback:	Until Dec. 1, 2008 for up to 35% at 111.75
Trade date:	Nov. 17
Settlement date:	Nov. 23
Ratings:	Moody's: Caa1
	Standard & Poor's: CCC+
Price talk:	11½%-11¾%

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