Activant Solutions talks $140 million tap of floaters due April 2010 at par

By Paul A. Harris

St. Louis, Oct. 5 - Activant Solutions Inc. talked a $140 million add-on to its senior floating-rate notes due April 1, 2010 at 100.00 on Wednesday, according to market sources.

The B2/B+ rated notes, which have a coupon of Libor plus 600 basis points, are expected to price late Thursday or early Friday.

Deutsche Bank Securities and JP Morgan are the bookrunners.

The Austin, Texas, software company is also in the market with a $40 million six-year floating-rate PIK note (Caa1/B-) from prospective issuer Activant Solutions Holdings. However no price talk or other news surfaced on that tranche on Wednesday.

Proceeds will be used to help fund the acquisition of Prophet 21.

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