ECi Software talks $124 million of incremental term loans at 99 OID

By Sara Rosenberg

New York, Sept. 16 – ECi Software Solutions launched on Monday both its fungible $96 million incremental first-lien term loan and its fungible $28 million incremental second-lien term loan with original issue discount talk of 99, according to a market source.

Pricing on the first-lien term loan is Libor plus 425 basis points with a 1% Libor floor and pricing on the second-lien term loan is Libor plus 800 bps with a 1% Libor floor.

The incremental and existing first-lien term loans are getting 101 soft call protection for six months.

Golub Capital is the lead arranger on the $124 million of incremental term loans.

Commitments are due on Sept. 23.

Proceeds will be used to fund the acquisition of Trivest Beheer BV, a Netherlands-based provider of smart vertical software solutions to the SME manufacturing sector.

Closing is expected in the third quarter, subject to customary conditions including regulatory approval.

ECi is a Fort Worth-based provider of enterprise resource planning software solutions to small- and medium-sized businesses across the distribution, field services, building and construction and manufacturing industries.

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