SunGard Data To Secure $479M Loan

SunGard Data Systemswill replace an existing $479.2 million term loan with a new loan of the same size,Bloombergreports. The new debt will have an interest rate of 3.5% more than the London interbank offered rate and will mature in February 2014.

JPMorgan Chaseis arranging the new loan. The proceeds from the loan are expected to be used by the software and technology services provider torefinance debt. SunGard is cutting pricing on the previous $479.2 million term loan.

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