Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SunGard Availability Services > News item |
Sungard widens OID on $425 million term loan maturity extension to 95
By Sara Rosenberg
New York, Dec. 20 – Sungard Availability Services revised the original issue discount for new and rolled money on the extension of its $425 million term loan B to 95, according to a market source.
Initially, new money was offered a discount of 98 and rolled money was offered a par issue price.
The term loan is being extended by three years to Oct. 1, 2022 from 2019.
Pricing on the extended term loan is still going to be Libor plus 1,000 basis points with a 1% Libor floor.
By comparison, current pricing on the term loan B is Libor plus 500 bps with a 1% Libor floor.
KKR Capital Markets is the lead on the deal.
Sungard Availability Services is a Wayne, Pa.-based provider of disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.