Silver Lake raises 1 billion euros in loans for Software AG takeover

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LONDON :Silver Lake on Tuesday raised a 1 billion euro ($1.10 billion) seven-year loan to fund its takeover of Germany's Software AG, breathing new life into the sluggish syndicated leveraged loan market.The loan is split between 640 million euros and $405 million, paying a margin of 475 basis points (bps) o

LONDON :Silver Lake on Tuesday raised a 1 billion euro seven-year loan to fund its takeover of Germany's Software AG, breathing new life into the sluggish syndicated leveraged loan market.

Banks including JPMorgan, Citigroup and Banco Santander originally marketed the loan at a margin of 500 bps, before tightening it to 475 bps during the syndication process.

 

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