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Advent Software enters $150 million credit agreement with JPMorgan
By Jennifer Chiou
New York, Dec. 2 - Advent Software Inc. entered into on Nov. 30 a credit agreement with JPMorgan Chase Bank, NA as administrative agent, providing for a $50 million revolving credit facility, a $50 million term loan A facility and a $50 million delayed-draw term loan, according to an 8-K filed with the Securities and Exchange Commission.
U.S. Bank NA was the documentation agent with Wells Fargo Bank, NA as syndication agent.
On Nov. 30, Advent borrowed $50 million of term loans.
The revolver has a $25 million sublimit for letter of credit and a $10 million swingline loan sublimit. It matures on Nov. 30, 2016.
The filing stated that Advent may request borrowings under the delayed-draw term loan facility until the one-year anniversary of the closing date.
There is a $50 million accordion.
Borrowings will bear interest at Libor plus 175 basis points to 275 bps.
Proceeds are earmarked for general corporate purposes.
Advent is a San Francisco-based provider of enterprise investment management software for investment advisors, banks and corporations.
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