OpenLink Said to Set Interest Rate on $375 Million LBO Loans
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OpenLink Financial Inc., a provider of financial software, set the initial interest rate on $375 million of loans it’s seeking to support Hellman & Friedman LLC’s acquisition of the company from Carlyle Group, according to a person with knowledge of the transaction.
A $325 million term loan will pay 6.5 percentage points more than the London interbank offered rate, said the person, who declined to be identified because the terms are private. Libor, a rate banks charge to lend to each other, will have a 1.5 percent floor.