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SunGard seeks to amend credit facility in connection with split-off
By Marisa Wong
Madison, Wis., Jan. 27 - SunGard Data Systems Inc. is seeking amendments to its senior secured credit agreement, including changes relating to the split-off of its availability services business, according to an 8-K filing with the Securities and Exchange Commission.
SunGard wants to make technical amendments permitting it to effect the split-off without requiring an initial public offering, its availability services business to incur up to $1.5 billion of indebtedness in connection with the split-off and its secured net leverage, after giving pro forma effect to the split-off, to increase no more than 0.60 times adjusted EBITDA at the time of the split-off.
SunGard is a Wayne, Pa.-based software and technology services company.
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