Bloomberg News

OpenLink’s $340 Million Buyout Term Loan Rises in Initial Trade

October 26, 2011

Oct. 26 (Bloomberg) -- OpenLink Financial Inc.’s $340 million term loan backing Hellman & Friedman LLC’s acquisition of the company from Carlyle Group rose in initial trading, according to information provider Markit Ltd.

The six-year debt began trading at 99 cents on the dollar after being sold to investors at 98 cents, Markit said.

Credit Suisse Group AG arranged the loan with an interest rate of 6.25 percentage points more than the London interbank offered rate and a 1.5 percent floor on the lending benchmark, according to data compiled by Bloomberg.

The Uniondale, New York-based company also got a $50 million revolving line of credit, Bloomberg data show.

To contact the reporter on this story: Michael Amato in New York at mamato3@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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