Sungard Availability Services and Its Lenders Extend Debt Maturities and Amend Key Credit Terms to Support Growth Initiatives

Sungard Availability Services Introduces New Private Cloud with Fully Automated Recovery
Extension Affirms Business Transformation Progress as Evidenced Through New Solutions, Network Transformation Initiatives and Service Delivery Enhancements

WAYNE, PA — Sungard Availability Services (Sungard AS), a leading provider of highly available, cloud-connected infrastructure in North America and Europe, recenty announced definitive agreements with its lenders to extend substantially all of its debt maturities from 2022 until 2024.

The amendments extend the maturities of both the senior and junior term loans and provide additional flexibility to continue investment in and execution of the Company’s operating plan. Due to the enhanced liquidity position achieved year-to-date, the Company is also making a partial prepayment on both its senior and junior term loans in conjunction with the transaction.

The amendments are further evidence of Sungard AS’ lenders’ confidence in the progress Sungard AS has made to transform its business and build its position in the global data center, network, cloud and IT infrastructure space. In recent months, the Company:

  • Introduced new Private Cloud services with longstanding partners Dell Technologies and VMware, a Powered by Dell Technologies solution
  • Partnered with Megaport to deliver solutions for Hybrid and Multi-Cloud infrastructures
  • Accelerated Software-Defined Network Transformation initiatives to expand interconnection capabilities with Unitas Global
  • Received Amazon Web Services (AWS) Managed Service Provider (MSP) Partner designation, and highlighted several customer relationships benefiting from its approach to AWS support
  • Achieved VMware Cloud Verified status

“Sungard AS is actively investing to bring new solutions to market, optimize our network infrastructure and further automate the systems and tools in our delivery model for improved customer experience and satisfaction,” said T.J. Anderson, Executive Vice President and Chief Financial Officer of Sungard AS. “Through this extension of our debt maturities, we can further invest in our business and build additional value for our customers, debt and equity holders, as well as employees.”

“The Sungard AS Board was fully supportive of the maturities extension and other amendments, as evidenced by the support of the Company’s four largest holders represented on the Board, as well as the vast majority of the other debt holders,” said Robert E. Guth, Chairman of the Board for Sungard AS. “The Board and Company management initiated this transaction well in advance of the 2022 maturities, as a further indication of the Company’s long-term commitment to its customers and all Sungard AS stakeholders.”

Akin Gump Strauss Hauer & Feld LLP and DH Capital, LLC served as advisors to the Company for the transaction.

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