Deals
SS&C Technologies Postpones $1.7 Billion Leveraged Loan Sale Due to Market Conditions
- Credit Suisse, three other banks committed to postponed deal
- Software firm is borrowing to help fund Blue Prism acquisition
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A group of five banks led by Royal Bank of Canada is stuck holding $1.7 billion of loans for software company SS&C Technologies Holdings Inc. after falling debt prices forced the postponement of the offering to investors on Wednesday.
The deal was pulled because of market conditions, according to a person with knowledge of the matter. The banks canceled a planned call with lenders -- the official start of the marketing process -- prior to its scheduled 10 a.m. start in New York.