SS&C Announces Proposed Private Placement of $1.0 Billion of Convertible Senior Notes Due 2031
Key Highlights
- ➤SS&C (SSNC) proposes $1.0 billion convertible notes due 2031
- ➤Initial purchasers may buy an additional $150.0 million of notes
- ➤Proceeds would help redeem $2,000.0 million of 2027 Senior Notes
- ➤SS&C plans up to $100.0 million in concurrent share repurchases
- ➤Proposed refinancing includes up to $500.0 million incremental Term B-8 Loans
- ➤Final interest rate and conversion terms will be set at pricing
SS&C Announces Proposed Private Placement of $1.0 Billion of Convertible Senior Notes Due 2031
SS&C Technologies Holdings, Inc. (the “Company” or “SS&C”) (NASDAQ: SSNC), a global provider of investment, financial and healthcare technology and technology-enabled services, today announced that it intends to offer, subject to market conditions and other factors, $1.0 billion aggregate principal amount of Convertible Senior Notes due 2031 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). SS&C also intends to grant the initial purchasers of the notes an option to purchase, for settlement during a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $150.0 million aggregate principal amount of the notes.
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