Commitments for the term loan to fund the $11.4 billion acquisition of SunGard Data Systems have been piling in, bankers said. Priced at LIBOR plus 2 3/4% on the $3.5 billion term loan, it is unlikely call protection will be required as some investors predicted.
JPMorgan and Citigroup are the co-lead arrangers for the bank deal and JPMorgan, Citigroup and Deutsche Bank are joint bookrunners. Goldman Sachs and Morgan Stanley also have syndication roles. Silver Lake Partners, Kohlberg Kravis Roberts & Co., Bain Capital, The Blackstone Group, Texas Pacific Group, Goldman Sachs Capital Partners and Providence Equity Partners are the private equity groups buying the company. Calls to Sungard were not returned by press time. A JPMorgan spokesman declined comment.