| NEW YORK, July 25
NEW YORK, July 25 BMC Software set bank meetings
in New York and London next week to launch a roughly $4.5
billion bank loan to back its acquisition by Bain Capital and
Golden Gate Capital, sources told Thomson Reuters LPC.
The bank loan consists of a $350 million five-year revolving
credit facility, a $3.2 billion term loan and a 750 million euro
term loan. Both term loans will mature in seven years and are
Pricing on the U.S. dollar-denominated loan is guided at
LIB+400 with a 1 percent Libor floor and a discount of 99 cents.
Pricing on the euro-denominated tranche is guided at 450bp over
Euribor with a 1 percent floor and a discount of 99.
Both tranches will benefit from 101 soft call protection for
six months. Lender commitments will be due August 8.
A bank meeting will take place in New York on July 30. A
bank meeting will be held in London on July 29.
BMC announced on May 6 that it would be acquired for $46.25
per share in cash, or approximately $6.9 billion. GIC Special
Investments Pte LTD and Insight Venture Partners are also part
of the investor group.
Barclays, Credit Suisse and RBC provided commitments for the
full amount of the financing.