BMC Announces Proposed Debt Refinancing
HOUSTON – November 27, 2017 – BMC, a global leader in IT solutions for the digital enterprise, announced today the launch of a proposed debt refinancing with a $150 million term loan add-on and new €240 million term loan (the “New Term Loans”).
BMC Software Finance, Inc. intends to use the proceeds from the New Term Loans, together with an expected additional unsecured debt financing (the “Unsecured Debt”, together with the New Term Loans, the “Refinancing”) (i) to fund the redemption of all the outstanding amounts under the 9.000%/9.750% Senior Contingent Cash Pay Notes due 2019 of its parent, Boxer Parent Company Inc., (ii) to repay all $282 million outstanding under its EUR Term Loan tranche , (iii) to pay all fees and related expenses related to these transactions, and (iv) for general corporate purposes.
Closing of the Refinancing is expected to occur in December. BMC has engaged Credit Suisse, Barclays, Goldman Sachs Lending Partners LLC, HSBC Securities (USA) Inc., Royal Bank of Canada and Mizuho to arrange and syndicate the New Term Loans.
There can be no assurance that the Refinancing will be consummated on the terms described herein or at all. Consummation of the Refinancing and actual terms of the Refinancing, including principal amount, interest rate and maturity of the New Term Loans and the Unsecured Debt, will depend on market and other conditions.
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BMC is a global leader in innovative software solutions that enable businesses to transform into digital enterprises for the ultimate competitive advantage. BMC’s Digital Enterprise Management solutions are designed to make digital business fast, seamless and optimized from mainframe to mobile to cloud and beyond. BMC digital IT transforms 82 percent of the Fortune 500 and serves more than 10,000 customers worldwide.
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