JPMorgan and Credit Suisse are expected to launch syndication of $970 million in loans for Infor Global Solutions' acquisition of Geac Computer Corp. Infor is owned by private equity firms Golden Gate Capital and Summit Partners. The deal consists of a four-year, $50 million revolver; a five-year, $605 million term loan "B" and a six-year, $315 million second-lien term loan. Pricing on the deal could not be determined. A bank meeting is set for Feb. 15 at 2 p.m.
Moody's Investors Service assigned a rating of B2 to the company's first-lien credit facility and a rating of Caa2 to its second-lien facility. Additionally, Moody's has affirmed the company's corporate family rating at B3.
Headquartered in Atlanta, Infor Global provides business solutions to manufacturing and distribution industries around the world. A spokesman at JPMorgan declined to comment as did a spokesman at Infor. Calls to Geac and Golden Gate Capital were not returned.