SS&C plans $1 billion convertible notes offering to refinance debt
SSNC•SS&C plans a $1 billion private placement of convertible senior notes due 2031, with an option for purchasers to buy up to $150 million more. The refinancing targets $2 billion of 5.5% senior notes due 2027.
1. Refinancing proposal
SS&C also proposed credit amendments that would add up to $500 million of Term B-8 Loans and $240 million of Term A-9 Loans, and increase revolving commitments by up to $400 million. The facility and Term A-9 Loans would mature in November 2031; definitive documentation for the amendments has not been signed, and the notes offering is not contingent on their completion.
