Investors and banks compromised on SunGard Data Systems' $4 billion "B" term loan, slicing pricing by 25 basis points in exchange for a year of soft call protection. Pricing on the facility, which also includes a $1 billion revolver, went down to LIBOR plus 2 1/2%. JPMorgan, Citigroup and Deutsche Bank lead the credit that backs the buyout of the company by a consortium of private equity firms. [SunGard is one of the more active names in the loan-only credit default swap market and its term loan is currently trading between 100.342-100.783, according to Markit.]
One Year Ago In The Credit Markets
