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Wall Street Systems shifts funds between U.S. and euro term loans
By Sara Rosenberg
New York, Feb. 22 – Wall Street Systems Inc. downsized its U.S. first-lien term loan to $231.6 million from $329.5 million and upsized its euro first-lien term loan to €372.1 million from €279.3 million, according to a market source.
Also, pricing on the U.S. loan was increased to Libor plus 350 basis points from Libor plus 325 bps, the source said.
Pricing on the euro loan remained at Euribor plus 325 bps.
Both term loans still have a 1% floor and a par issue price.
UBS Investment Bank is the lead bank on the deal.
Proceeds will be used to reprice existing U.S. and euro term loans down from Libor/Euribor plus 375 bps with a 1% floor.
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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