SunGard Public Administration to launch $435 million loan deal Jan. 5

By Sara Rosenberg

New York, Dec. 8 – SunGard Public Administration and Public Safety is scheduled to hold a bank meeting in New York on Jan. 5 to launch a $435 million credit facility, according to a market source.

Antares Capital and Golub Capital are the joint lead arrangers on the deal.

The facility consists of a $40 million revolver, a $275 million covenant-light first-lien term loan and a $120 million covenant-light second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Vista Equity Partners from Fidelity National Information Services.

The transaction does not include the Sungard Education business that is concurrently being acquired by Vista-owned PowerSchool Group LLC from Fidelity National.

SunGard Public Administration is a Lake Mary, Fla.-based provider of mission-critical software solutions that serve the needs of public administration and public safety officials.

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