Activant extends $275 million of term loan, $25.5 million of revolver

By Sara Rosenberg

New York, Nov. 22 - Activant Solutions Inc. extended $275 million of its term loan to Feb. 2, 2016 from May 2, 2013 and $25.5 million of its revolver to May 2, 2013 from May 2, 2011 through its amendment and extension offer, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The company had been looking to extend at least $250 million of its term loan and up to $33 million of its revolver.

Pricing on the extended term loan is Libor plus 450 basis points, up from Libor plus 200 bps on the non-extended term loan and Libor plus 250 bps on the non-extended incremental term loan. Pricing on the extended revolver is Libor plus 450 bps, up from Libor plus 200 bps on the non-extended loan.

In addition, the amendment revised the maximum leverage ratio so that it steps 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.

The amendment was completed on Nov. 19.

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

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