Silver Lake raises 1 bln euros in loans for Software AG takeover

Software AG

01/08/2023 16:00

LONDON, Aug 1 (Reuters) - Silver Lake  SILAK.UL  on
Tuesday raised a 1 billion euro  ($1.10 billion) seven-year loan
to fund its takeover of Germany's Software AG  SOWGn.DE ,
according to a term sheet seen by Reuters.
    The loan is split between 640 million euros and $405
million, paying a margin of 475 basis points over the benchmark
rate, the term sheet added.
    On July 20, the U.S. private equity firm announced it had
secured a 84.29% stake in Software AG, subject to closing of the
tender offer, adding that the transaction was expected to close
in the fourth quarter pending regulatory approvals.
    Software AG shares were last up 0.3% on the day in
Frankfurt. They have fallen by 13% since hitting a multi-month
high after Silver Lake's offer in April this year. 

 (Reporting by Chiara Elisei; Editing by Amanda Cooper)
 ((Chiara.Elisei@thomsonreuters.com;))