Genesys wraps €555 million term loan B at discount of 99.5

By Sara Rosenberg

New York, Oct. 9 – Genesys finalized the original issue discount on its €555 million ($650 million equivalent) seven-year term loan B at 99.5, the tight end of revised talk of 99 to 99.5 and tighter than initial talk of 98, according to a market source.

Pricing on the euro term loan is Euribor plus 425 basis points with a 0% floor.

As previously reported, the company is also getting a $2.7 billion seven-year term loan B priced at Libor plus 400 bps with a 0.75% Libor floor and an original issue discount of 99.

Both term loans have 101 soft call protection for six months.

Earlier in syndication, the U.S. term loan was downsized from $2.825 billion and the spread firmed at the low end of the Libor plus 400 bps to 425 bps talk, and the euro term loan was upsized from $525 million euro equivalent and pricing was set at the low end of the Euribor plus 425 bps to 450 bps talk.

BofA Securities Inc., Goldman Sachs Bank USA, Citigroup Global Markets Inc., RBC Capital Markets, Wells Fargo Securities LLC and Credit Suisse Securities (USA) LLC are the leads on the $3.35 billion equivalent of term loans (B3/B-).

Proceeds will be used to refinance existing debt and fund a dividend.

Genesys is a Daly City, Calif.-based provider of omnichannel customer experience and contact center solutions.

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