Jan. 25 (Bloomberg) -- Attachmate Corp., a systems infrastructure software provider, is seeking $400 million in loans to fund a dividend to sponsors, according to a person with knowledge of the transaction.
A $300 million first-lien term loan due in April 2017 will pay 5.75 percentage points more than the London interbank bank offered rate, said the person, who declined to be identified because the terms are private. Libor, the rate banks say they can borrow in dollar from each other, will have a 1.5 percent floor.
A $100 million second-lien term due October 2017 will pay 9 percentage points more than Libor with a 1.5 percent minimum on the benchmark, the person said.
Attachmate is proposing to sell both the first and second portions at 98 cents on the dollar, the person said, reducing proceeds for the company and boosting the yield to investors
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