UGS PLM approximately $1 billion in bank and bond financing likely May business

By Sara Rosenberg

New York, March 24 - UGS PLM Solutions is expected to come to the bank loan and high yield markets with debt financing totaling approximately $1 billion between the two transactions, according to a market source, who added that the deals would probably surface some time in May.

Some other sources had heard that deals would launch in April, however "that's probably aggressive," the market source explained. "My guess is it will be more like May. Everything [meaning the bank and bond transaction] would be done around the same time."

JPMorgan, Citigroup and Morgan Stanley are the lead banks on the credit facility, with JPMorgan on the left.

Those same three banks will be leading the bond offering, but the order will be slightly different with Citigroup listed on the left and JPMorgan and Morgan Stanley as the other lead banks, the source added.

Proceeds from the debt transactions will be used to help support the previously announced acquisition of UGS PLM by Bain Capital, Silver Lake Partners and Warburg Pincus from Electronic Data Systems Corp. (EDS) for $2.05 billion in cash.

UGS PLM is a Plano, Tex. provider of PLM software and related services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.