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Genesys Telecommunications Laboratories Inc., the provider of call-center software controlled by Permira Advisers LLP, set the rate it will pay on a $675 million term loan it’s seeking to refinance debt, according to a person with knowledge of the transaction.

The debt will pay interest at 3.5 percentage points to 3.75 percentage points more than the London interbank offered rate, said the person, who asked not to be identified because the information is private. Libor, a rate banks say they can borrow in dollars from each other, will have a 1.25 percent floor.

Genesys is proposing to sell the loan at 99 cents on the dollar, the person said, reducing proceeds for the company and boosting the yield to investors.

Lenders are being offered one-year soft-call protection of 101 cents, meaning the company would have to pay 1 cent more than face value to refinance the debt during the first year, the person said.

The term loan is expected to have a portion denominated in euros of at least 100 million and pay interest 25 basis points more than than the dollar-denominated term piece, according to the person.

Goldman Sachs Group Inc. is arranging the financing for the Daly City, California-based company, according to data compiled by Bloomberg.

Genesys’s existing loan pays interest at 5.25 percentage points more than the London interbank offered rate with a 1.5 percent floor, Bloomberg data show. The debt was sold to investors at 98 cents on the dollar and was quoted at 100.875 cents today, the data show.

Nathaniel Garnick, a spokesman for Permira, declined to comment.

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