MSC Software readies launch of $435 million credit facility for May 8

By Sara Rosenberg

New York, April 30 - MSC Software Corp. is scheduled to hold a bank meeting on May 8 to launch a $435 million credit facility, according to a market source.

Jefferies Finance LLC is the lead on the deal.

The facility consists of a $10 million revolver, a $305 million first-lien term loan due 2020 and a $120 million second-lien term loan due 2021, the source said.

Proceeds will be used to refinance existing debt and fund a dividend.

MSC Software is a Newport Beach, Calif.-based software company that focuses on multidiscipline simulation.

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