Activant to get new credit facility via JPMorgan with IPO

By Sara Rosenberg

New York, June 2 - Activant Solutions Holding Inc. plans to get a new senior credit facility via JPMorgan in connection with its initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission Thursday.

The facility is expected to contain a revolving credit facility that will be undrawn at closing and a term loan tranche, the filing said.

Proceeds from the credit facility, along with proceeds from the IPO will be used to purchase the company's outstanding 10½% senior notes due 2011 in a tender offer, to purchase its floating-rate senior notes due 2010 in a tender offer and to make a dividend payment to Hicks Muse.

Security is a first-priority perfected interest in substantially all assets, including after-acquired property.

Activant is an Austin, Texas-based provider of vertical enterprise resource planning solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.