Activant to launch $120 million five-year floaters Thursday

By Paul A. Harris

St. Louis, Feb. 28 - Activant Solutions Inc. will launch its $120 million offering of five-year senior floating-rate notes (B2/B+) in a roadshow beginning Thursday in Boston, according to market sources.

JP Morgan and Deutsche Bank Securities will be joint bookrunners for the Rule 144A/Regulation S offering, which will have registration rights.

The notes will become callable after one year at 102, with the call premium declining annually thereafter to 101.5, 101 and to par.

The notes will exist pari passu with company's existing 10½% senior notes.

Proceeds, together with cash on hand, will be used to fund Activant's previously announced purchase of all outstanding shares of the common stock of Speedware Corp. Inc.

Activant Solutions is an Austin, Texas-based technology provider of business management solutions.

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