Activant Solutions to launch loan amendment and extension on Thursday

By Sara Rosenberg

New York, Nov. 3 - Activant Solutions Inc. is scheduled to hold a call on Thursday to launch an amendment and extension of its credit facility, according to a market source.

Under the proposed amendment, at least $250 million of the existing term loans would be extended to Feb. 2, 2016 from May 2, 2013 and up to $33 million of the revolver would be extended to May 2, 2013 from May 2, 2011.

In addition, the amendment would revise the maximum leverage ratio so that it would step down to 4.25 times from Dec. 31 through Sept. 30, 2011 to 4 times from Dec. 31, 2011 through 2012, and to 3.75 times thereafter.

Deutsche Bank is the administrative agent on the deal.

Activant Solutions is a Livermore, Calif.-based technology provider of business management solutions.

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