Sungard announces extension of senior and junior term loans to 2024

By Cady Vishniac

Detroit, Dec. 22 – Sungard AS has entered into agreements with its lenders to extend maturities on substantially all its loans to 2024 from 2022, according to a press release.

The amendment extends both senior and junior term loans. The company says it has also amended key credit terms to provide more flexibility in carrying out the company’s operating plan.

The company also made prepayments on its senior and junior term loans in conjunction with the transaction.

Akin Gump Strauss Hauer & Feld LLP and DH Capital, LLC served as advisors.

Sungard is a Wayne, Pa.-based provider of disaster recovery services, managed IT services, information availability consulting services and business continuity management software.

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