Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Activant Solutions Inc. > News item |
Activant $120 million five-year notes talked Libor plus 600-625 bps, to price Thursday
By Paul A. Harris
St. Louis, March 9 - Activant Solutions Inc.'s $120 million offering of five-year senior floating-rate notes (B2/B+) is talked at three-month Libor plus 600 to 625 basis points, according to market sources.
Pricing is expected on Thursday.
JP Morgan and Deutsche Bank Securities are joint bookrunners for the Rule 144A/Regulation S offering, which has 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 after four years. The notes will exist pari passu with the 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 common stock of Speedware Corp. Inc.
Activant Solutions is an Austin, Texas-based technology provider of business management solutions.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.