Wall Street talks $460 million term loan B at Libor plus 300-325 bps

By Sara Rosenberg

New York, March 31 - Wall Street Systems Delaware Inc. is talking its in market $460 million seven-year covenant-light term loan B at Libor plus 300 basis points to 325 bps with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

The term loan has 101 soft call protection for six months.

The company's $485 million credit facility (B3) also includes a $25 million five-year revolver.

Commitments are due on Friday, the source said.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Proceeds will be used to refinance an existing senior secured credit facility and repay debt.

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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