Milbank, Tweed, Hadley & McCloy LLP represented Credit Suisse Securities (USA) LLC and Morgan Stanley Senior Funding, Inc. as joint lead arrangers and joint bookrunners in connection with the senior secured credit facilities for Rocket Software, a leading global developer of software products headquartered in Waltham, Massachusetts. The proceeds of the facilities, which included a $675 million first lien term loan, a $195 million second lien term loan and a $35 million revolving credit facility, were used to pay the acquisition consideration for certain licensing and software source code, pay a special dividend to Rocket Software’s stockholders, Court Square Capital Partners, and refinance Rocket Software’s existing credit facilities.
The Milbank Global Leveraged Finance team was led by partner Marc Hanrahan and associates Spencer Pepper, George Zhang, Juyon Kang and Daniel Groh-Wargo. Also providing advice was associate Javier Ramos of Milbank’s Intellectual Property Group.
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