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Wall Street Systems to launch $490 million credit facility on Friday
By Sara Rosenberg
New York, March 26 - Wall Street Systems Delaware Inc. is scheduled to hold a call at 10 a.m. ET on Friday to launch a $490 million credit facility, according to a market source.
Deutsche Bank Securities Inc. is the bookrunner on the deal.
The facility consists of a $40 million five-year revolver and a $450 million seven-year covenant-light term loan B, the source said.
Included in the term loan is 101 soft call protection for six months.
Proceeds will be used to refinance an existing senior secured credit facility and repay debt, the source added.
Wall Street Systems is a provider of treasury management, central banking and FX trade processing solutions with U.S. headquarters in New York.
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