Reynolds and Reynolds to launch $3.43 billion facility on Wednesday

By Sara Rosenberg

New York, July 22 - Reynolds and Reynolds Co. scheduled a bank meeting for 3:30 p.m. ET on Wednesday to launch a $3,425,000,000 credit facility, according to a market source.

Deutsche Bank Securities Inc. is the lead bank on the deal.

The facility consists of a $25 million revolver, a $550 million five-year term loan A, a $1.75 billion seven-year term loan B and a $1.1 billion 71/2-year second-lien term loan, the source said.

Proceeds will be used for a recapitalization.

Reynolds and Reynolds is a Kettering, Ohio-based provider of software, business forms and supplies, and professional services that support automotive retailing for car dealers and automakers.

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