Deals
Apax May Use $1.41 Billion of Debt for Epicor, Activant M&A
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Apax Partners LLP, the London-based private-equity firm that agreed to buy U.S. business-software makers Epicor Software Corp. and Activant Solutions Inc., plans to use $1.41 billion of loans to help pay for the purchases.
Bank of America Corp. and Royal Bank of Canada agreed to provide an $870 million term loan due in seven years and a $75 million revolving credit line expiring in five years, Irvine, California-based Epicor said today in a regulatory filing. The financing also includes a $465 million bridge loan.