Simpson Thacher Represents SunGard Data Systems Inc. in Financing Transactions Related to the Split-Off of Sungard Availability Services Capital, Inc.
04.02.14
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The Firm represented SunGard Data Systems Inc. (“SDS”) in connection with financing transactions used to provide a portion of the consideration for the split-off of Sungard Availability Services Capital, Inc. (“Sungard AS”). In connection with the split-off Sungard AS (i) issued $425 million aggregate principal amount of 8.75% Senior Notes due 2022 (the “Notes”) and (ii) entered into a new senior secured credit agreement, comprised of a $1,025 million term loan facility due in 2019 (the “Term Loan Facility”) and a $250 million senior secured revolving credit facility maturing in 2018. Sungard AS contributed the Notes, the net cash proceeds from borrowings under the Term Loan Facility and shares of its common stock to SDS as consideration to effect the separation of the Availability Services business from SDS.
SDS is one of the world’s leading software and technology services companies.
The Simpson Thacher team for this transaction included: Richard Fenyes, Jeremy Barr and Hana Nah (Capital Markets); Jennifer Hobbs, Eli Isak and Luis Pellerano (Credit); Steven Todrys, Jonathan Cantor and Drew Purcell (Tax); Samantha Himelman (Intellectual Property); Noreen Lavan (Environmental); and Jeanne Annarumma (Executive Compensation and Employee Benefits).