Reynolds and Reynolds to launch $915 million loan repricing on Tuesday

By Sara Rosenberg

New York, April 29 - Reynolds and Reynolds Co. is set to hold a call on Tuesday to launch a repricing of $915 million of term loans, according to a market source.

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

The debt includes a $447 million term loan B due 2018 and a $468 million term loan A due 2016, the source said.

Talk on the repriced term loan B is Libor plus 250 basis points with no Libor floor and a par offer price, versus Libor plus 275 bps with a 1% Libor floor currently, and talk on the repriced term loan A is Libor plus 200 bps with no floor, versus Libor plus 250 bps with no floor currently, the source continued.

The repriced term loan B has 101 soft call protection for six months.

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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