Rocket Software sets Wednesday call for $59 million tack-on term loan

By Paul A. Harris

Portland, Ore., Sept. 18 - Rocket Software, Inc. will hold a Wednesday investor conference call for a $59 million tack-on to its first-lien term loan due Feb. 8, 2018.

The deal, which is being led by Credit Suisse Securities (USA) LLC, is talked at Libor plus 550 basis points with a 1.5% Libor floor, discounted to 99.5.

The deal features a 101 soft call through February 2013.

The Newton, Mass.-based software development firm plans to use the proceeds to fund acquisitions.

Rocket Software priced a $300 million first-lien term loan at 98 on Feb. 3, 2012 with an interest rate of Libor plus 550 bps.

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