Infor Global Solutions is back in the bank market to refinance a $1.425 billion senior subordinated bridge facility. JPMorgan launched the approximately $1.5 billion credit facility last Monday, comprising a e155 million first-lien term loan and an approximately $1.3 billion second-lien term loan split into a e642 million tranche and a $475 million tranche. The first lien is priced at EURIBOR plus 3 1/4% and the second lien is priced at LIBOR plus 6 1/2%, according to market sources. Credit Suisse and Merrill Lynch are also involved in the financing.
The Atlanta-based global enterprise software provider entered into a $2.3 billion global credit facility and the $1.425 billion bridge facility in July to back three acquisitions: SSA Global, Extensity and Systems Union Group. The credit, also led by JPM, CS and Merrill, consists of a $150 million revolver and a $2.25 billion term loan priced at LIBOR plus 3 3/4% on both tranches. Goldman Sachs, GE Capital, Wells Fargo and Barclays Capital led the bridge facility and were also involved in the bank facility. Calls to Stephen Earhart, cfo, were not returned.