SunGard to start roadshow Monday for $1.25 billion two-part eight-year note offering

By Paul A. Harris

St. Louis, July 14 - SunGard Data Systems, Inc. will start a roadshow on Monday for a $1.25 billion two-part offering of eight-year senior unsecured notes (B-), according to a syndicate source.

The Wayne, Pa.-based software and information technology services company is in the market with fixed-rate notes that come with four years of call protection and floating-rate notes that come with two years of call protection.

Tranche sizes remain to be determined. Pricing is expected during the July 25 week.

Deutsche Bank Securities, JP Morgan, Citigroup, Goldman Sachs & Co., Morgan Stanley and Banc of America Securities will be joint bookrunners. Co-managers are expected to emerge.

Proceeds will be used to help fund the $11.3 billion acquisition of the company by Solar Capital Corp., a group formed by Silver Lake Partners, Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. LP, Providence Equity Partners and Texas Pacific Group.

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