Help/Systems talks $200 million credit facility at Libor plus 550 bps

By Sara Rosenberg

New York, March 28 - Help/Systems Inc. is talking its $200 million five-year credit facility at Libor plus 550 basis points with a 1.25% Libor floor and an original issue discount of 981/2, according to a market source.

The facility consists of a $25 million revolver and a $175 million term loan, the source said.

Amortization on the term loan is 5% per annum.

GE Capital Markets and NXT are the lead banks on the deal that launched with a bank meeting on Tuesday.

Proceeds will be used to help fund the buyout of the company by Summit Partners.

Help/Systems is an Eden Prairie, Minn.-based provider of automated operations and business intelligence software for IBM Power Systems servers.

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