Infor lowers pricing on $150 million revolver to Libor plus 275 bps

By Toni Weeks

San Luis Obispo, Calif., Feb. 4 - Infor, Inc. and subsidiary Infor (US), Inc. amended their credit agreement on Friday with Bank of America, NA as administrative agent, swingline lender and issuing bank, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The amendment lowered the interest rate applicable to borrowings made under the $150 million senior secured revolving credit facility to Libor plus 275 basis points. There is also a commitment fee of 50 bps when the total leverage ratio as of the most recent determination date is greater than or equal to 5.5 times and 37.5 bps when the total leverage ratio is less than 5.5 times.

No other changes were made to the terms of the revolver, the filing noted, and the revolver was undrawn as of Friday.

New York-based Infor provides enterprise software and services.

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