SS&C to redeem up to $71.75 million 11¾% notes with IPO proceeds

By Angela McDaniels

Tacoma, Wash., March 31 - SS&C Technologies Holdings, Inc. plans to redeem up to $71.75 million principal amount of its outstanding 11¾% senior subordinated notes due 2013 using proceeds from its initial public offering of stock, according to a 424B4 filing with the Securities and Exchange Commission.

The redemption price will be 105.875% of par plus accrued interest.

The company estimated that it will receive $112.3 million of net proceeds from the IPO. Any proceeds not used to fund the redemption will be used for working capital and other general corporate purposes, including potential acquisitions.

Windsor, Conn.-based SS&C Technologies makes investment and financial management software and related services.

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