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SunGard preps amendment to $4.24 billion credit to back spinoff

29
Jan
2014

By Natalie Wright NEW YORK (Reuters) – Software and technology services company SunGard Data Systems Inc is preparing to launch Tuesday an amendment to $4.24 billion in loans to back the spinoff of SunGard’s Availability Services business, sources told Thomson Reuters LPC. JP Morgan leads the deal. The amendment is in conjunction with SunGard’s planned spinoff of the Availability Services segment, which provides disaster recovery, cloud services and IT consulting, as well as to make other changes to the credit agreement. The spinoff will be tax free.

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