Helios Software, ION talk $350 million seven-year notes at 4½%-4¾%; pricing Monday

By Paul A. Harris

Portland, Ore., April 26 – Helios Software Holdings, Inc. and its parent, ION Corporate Solutions Finance Sarl, talked their $350 million offering of seven-year senior secured notes (B2/B) to yield 4½% to 4¾%, according to market sources.

Official talk comes tighter than initial guidance in the 5% area.

Books close at 1:30 p.m. ET on Monday, and the deal is set to price thereafter.

Credit Suisse is the left bookrunner. Standard Chartered is the joint bookrunner.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon and feature a three-year 40% equity clawback and a 101% poison put.

Proceeds will be used to pay down an existing credit facility and for general corporate purposes.

Helios Software is a Boston-based health care product development company. Management firm ION has headquarters in Dublin, Ireland.

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