ION Corporates to launch $860 million, €860 million term loans Monday

By Sara Rosenberg

New York, Feb. 26 – ION Corporates (Helios Software Holdings Inc.) is scheduled to hold an investor call at 10 a.m. ET on Monday to launch an $860 million seven-year covenant-lite first-lien term loan B (B2/B) and an €860 million seven-year covenant-lite first-lien term loan B (B2/B), according to a market source.

Credit Suisse Securities is the coordinator and bookrunner on the deal.

Price talk on the U.S. and euro term loans is Libor/Euribor plus 375 basis points to 400 bps with a 0% floor and an original issue discount of 99.5, the source said.

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

Commitments for the U.S. loan are due at 5 p.m. ET on Thursday, and commitments for the euro loan are due at noon ET on Thursday, the source added.

Proceeds will be used to refinance existing debt, for general corporate purposes and to pay related fees and expenses.

ION is a provider of software and solutions focused on corporate treasury and commodities management.

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