Openlink Financial launches $514 million equivalent of term loans

By Sara Rosenberg

New York, Nov. 1 – Openlink Financial LLC launched on a lender call on Thursday a $514 million equivalent U.S. and euro term loan, according to a market source.

UBS Investment Bank is the lead on the deal.

Price talk on the roughly $343 million U.S. term loan is Libor plus 425 basis points to 450 bps with a 1% Libor floor and a par issue price, and talk on the roughly €148 million euro term loan is Euribor plus 375 bps with a 1% floor and a par issue price, the source said.

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

Proceeds will be used to reprice an existing U.S. term loan from Libor plus 475 bps with a 1% Libor floor and an existing euro term loan from Euribor plus 425 bps with a 1% Libor floor.

Commitments are due on Nov. 8, the source added.

Openlink is a Uniondale, N.Y.-based provider of trading and risk management solutions.

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