Press release
SS&C Announces Pricing of $750 million of Senior Notes
WINDSOR, Conn., May 3, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (the "Company" or "SS&C") (NASDAQ: SSNC), a global provider of investment,
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"WINDSOR, Conn., May 3, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (the \"Company\" or \"SS&C\") (NASDAQ: SSNC), a global provider of investment, financial and healthcare software and software-enabled services, today announced the pricing of its private placement offering of $750 million in aggregate principal amount of its 6.500% senior notes due 2032 (the \"Notes\").\n\n \n \n \n \n \n \n\n \nThe Notes will have an interest rate of 6.500% per annum and are being issued at a price equal to 100% of their face value. The Notes will be issued by the Company's wholly-owned subsidiary, SS&C Technologies, Inc. (the \"Issuer\"), and guaranteed by the Company and all of its existing domestic restricted subsidiaries (other than the Issuer) that guarantee its existing senior secured credit facilities. The Notes would also be guaranteed by all of the Company's future domestic restricted subsidiaries that guarantee its senior secured credit facilities or certain other indebtedness. The offering of the Notes is expected to close on May 9, 2024, subject to customary closing conditions.\nSubstantially concurrently with the closing of the offering of the Notes, the Company expects to enter into the previously-announced term B-8 loan. The Company expects the principal amount of the term B-8 loan will be increased from $2,775.0 million to $3,935.0 million.\nThe Company estimates that the net proceeds from the offering will be approximately $744 million, after deducting the initial purchasers' discounts and estimated offering expenses. The Issuer expects to use the net proceeds of this offering, together with the net proceeds of the term B-8 loan and cash on hand, to repay all amounts owed under the term B-3 loan, the term B-4 loan, the term B-5 loan, the term B-6 loan and the term B-7 loan under its existing senior secured credit facilities, as well as to pay related fees and expenses.\nThe Notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the \"Securities Act\").\nThis communication does not constitute an offer to sell or the solicitation of an offer to buy the Notes nor shall there be any offer, solicitation or sale of the Notes in any state in which such offer, sol...