Advent Software gets $75 million revolver

By Sara Rosenberg

New York, Feb. 21 - Advent Software Inc. closed on a new $75 million three-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Wells Fargo Foothill Inc. acted as the lead bank on the deal, which was completed on Feb. 14.

Pricing on the revolver is Libor plus 150 basis points.

There is a maximum ratio of senior debt to adjusted EBITDA under the facility that must be met when availability plus qualified cash and cash equivalents is less than $50 million.

Proceeds will be available to fund the repurchase of outstanding common stock, and for working capital, capital expenditures and general corporate requirements.

Advent is a San Francisco-based provider of enterprise investment management software for investment advisors, banks and corporations.

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