Silver Lake raises €1 billion in loans for Software AG takeover

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LONDON: Silver Lake on Tuesday raised a €1 billion (US$1.10 billion) seven-year loan to fund its takeover of Germany's Software AG, breathing new life into the sluggish syndicated leveraged loan market. The loan is split between €640 million and US$405 million, paying a margin of 475 basis points (bps)

LONDON: Silver Lake on Tuesday raised a €1 billion seven-year loan to fund its takeover of Germany's Software AG, breathing new life into the sluggish syndicated leveraged loan market.

Banks including JPMorgan, Citigroup and Banco Santander originally marketed the loan at a margin of 500 bps, before tightening it to 475 bps during the syndication process.

 

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