SS&C Technologies intends to reprice $5.2 billion of term loan debt

By Paul A. Harris

Portland, Ore., Jan. 22 – SS&C Technologies, Inc. plans to reprice about $5.2 billion of covenant-lite first-lien term loan debt due April 2025 (Ba2/BB+), according to a market sources.

The repricing, which involves $1,983,000,000 of term loan B-3, $1,375,000,000 of term loan B-4 and $1,841,000,000 of term loan B-5, would take the spread to Libor to 175 basis points from 225 bps.

The issue price is par.

The Libor floor is 0%.

The 101 soft call protection resets for six months.

A lender call was scheduled to take place Wednesday.

Commitments are due Friday.

Credit Suisse and Citigroup are the arrangers.

The borrower is Windsor, Conn.-based technology company that sells software to the financial services industry.

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