Rocket Software to launch $825 million term loan on Thursday

By Sara Rosenberg

New York, May 11 – Rocket Software Inc. is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch an $825 million incremental term loan B, according to a market source.

RBC Capital Markets and Deutsche Bank Securities Inc. are the lead arrangers on the deal.

Proceeds will be used with a portion of the company’s excess balance sheet cash to fund the acquisition of ASG Technologies, a Naples, Fla.-based provider of information management and mainframe systems performance management, from Evergreen Coast Capital.

Closing is subject to receipt of applicable regulatory approvals and other customary conditions.

Currently, the company has an existing roughly $1.27 billion term loan B priced at Libor plus 425 basis points with a 0% Libor floor.

Bain Capital is the sponsor.

Rocket Software is a Waltham, Mass.-based provider of enterprise infrastructure software.

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