Wall Street Systems launches $165 million add-on loan at 99-99.5 OID

By Sara Rosenberg

New York, Aug. 4 – Wall Street Systems Holdings Inc. launched on Thursday its $165 million add-on term loan with price talk of Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

UBS Investment Bank is the lead bank on the deal.

Commitments are due on Aug. 16, the source added.

Proceeds will be used to fund a pending acquisition and a dividend.

In addition, the company is seeking a two-year maturity extension of its existing term loan that is currently due in 2021.

Wall Street Systems is a provider of treasury management, central banking and FX trade processing solutions with U.S. headquarters in New York.

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