Epicor eyes $350 million five-year PIK toggle notes, sets Monday investor call

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., June 3 - Eagle Midco Inc. (Epicor Software Corp.) plans to price $350 million five-year senior PIK toggle notes (expected ratings Caa2/CCC+), according to a market source.

An investor call is scheduled for 11 a.m. ET on Monday.

BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and RBC Capital Markets LLC are the joint bookrunners.

MCS Capital Markets is the co-manager.

The Rule 144A for life notes feature a first call at 102 in 1.5 years and a 101% poison put.

Proceeds will be used to fund a dividend.

Epicor is a Dublin, Calif.-based provider of enterprise business software services.

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