WINDSOR,
Conn., May 3, 2024 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (the "Company" or "SS&C") (NASDAQ:
SSNC), a global provider of investment, financial and healthcare
software and software-enabled services, today announced the pricing
of its private placement offering of $750 million in aggregate principal amount
of its 6.500% senior notes due 2032 (the "Notes").
The Notes will have an interest rate of 6.500% per annum and are
being issued at a price equal to 100% of their face value. The
Notes will be issued by the Company's wholly-owned subsidiary,
SS&C Technologies, Inc. (the "Issuer"), and guaranteed by the
Company and all of its existing domestic restricted subsidiaries
(other than the Issuer) that guarantee its existing senior secured
credit facilities. The Notes would also be guaranteed by all of the
Company's future domestic restricted subsidiaries that guarantee
its senior secured credit facilities or certain other indebtedness.
The offering of the Notes is expected to close on May 9, 2024, subject to customary closing
conditions.
Substantially concurrently with the closing of the offering of
the Notes, the Company expects to enter into the
previously-announced term B-8 loan. The Company expects the
principal amount of the term B-8 loan will be increased from
$2,775.0 million to $3,935.0 million.
The Company estimates that the net proceeds from the offering
will be approximately $744 million,
after deducting the initial purchasers' discounts and estimated
offering expenses. The Issuer expects to use the net proceeds of
this offering, together with the net proceeds of the term B-8 loan
and cash on hand, to repay all amounts owed under the term B-3
loan, the term B-4 loan, the term B-5 loan, the term B-6 loan and
the term B-7 loan under its existing senior secured credit
facilities, as well as to pay related fees and expenses.
The Notes are being sold in a private placement to qualified
institutional buyers pursuant to Rule 144A and to non-U.S. persons
outside the United States pursuant
to Regulation S under the Securities Act of 1933, as amended (the
"Securities Act").
This communication does not constitute an offer to sell or the
solicitation of an offer to buy the Notes nor shall there be any
offer, solicitation or sale of the Notes in any state in which such
offer, solicitation or sale would be unlawful. The Notes to be
offered have not been and will not be registered under the
Securities Act, or applicable state securities laws, and may not be
offered or sold in the United
States absent registration or pursuant to an applicable
exemption from the registration requirements of the Securities Act
and applicable state securities laws.
About SS&C Technologies
SS&C is a global provider of software and services for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale, and technology.
Caution Regarding Forward-Looking Statements
Certain information contained in this press release
constitutes forward-looking statements for purposes of the safe
harbor provisions under the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, expectations,
intentions, projections, developments, future events, performance,
underlying assumptions, and other statements that are other than
statements of historical facts. Without limiting the
foregoing, the words "believes", "anticipates", "plans", "expects",
"estimates", "projects", "forecasts", "may", "assume", "intend",
"will", "continue", "opportunity", "predict", "potential",
"future", "guarantee", "likely", "target", "indicate", "would",
"could" and "should" and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements are accompanied by such words. Such
statements reflect management's best judgment based on factors
currently known but are subject to risks and uncertainties, which
could cause actual results to differ materially from those
anticipated. Such risks and uncertainties include, but are not
limited to, statements relating to the closing of the offering of
the Notes, the anticipated use of proceeds therefrom, and the risks
discussed in the "Risk Factors" section of the Company's most
recent Annual Report on Form 10-K, which is on file with the
Securities and Exchange Commission and can also be accessed on our
website. Forward-looking statements speak only as of the date on
which they are made and, except to the extent required by
applicable securities laws, we undertake no obligation to update or
revise any forward-looking statements.
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SOURCE SS&C