Business Context and Reporting Period
This Form 8-K Current Report was filed by SS&C Technologies Holdings, Inc. on June 29, 2015. The filing discloses a significant capital market event: the pricing of a new debt offering intended to finance a pending acquisition.
Key Financial Metrics
The filing details a specific debt issuance but does not provide operational financial metrics such as revenue, profit, cash flow, or margins for the reporting period.
- Debt Issuance: $600 million aggregate principal amount of 5.875% senior notes due 2023.
- Interest Rate: 5.875%.
- Maturity Date: 2023.
- Liquidity/Proceeds Use: Net proceeds will be used to finance the acquisition of Advent Software, Inc. and for general corporate purposes.
Material Changes
The primary material change is the execution of a $600 million debt offering. This transaction is explicitly conditioned upon the consummation of the Company's previously announced acquisition of Advent Software, Inc., which was agreed upon on February 2, 2015.
Guidance, Outlook, and Risks
The filing contains forward-looking statements regarding the Company's ability to complete the offering and consummate the Advent acquisition. Management cautions that actual results may vary materially from these projections. The offering is subject to market conditions and the successful closing of the Advent merger. The Notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S, and are not registered under the Securities Act of 1933.
Investor Verification Checklist
- Verify the final closing date and conditions precedent for the Advent Software, Inc. acquisition.
- Confirm the exact amount of net proceeds received after deducting underwriting discounts and expenses.
- Review the full text of the Agreement and Plan of Merger filed on February 3, 2015, for specific acquisition terms.
- Assess the impact of the new $600 million debt obligation on the Company's leverage ratios and interest coverage.