SunGard Data Systems will replace an existing $479.2 million term loan with a new loan of the same size, Bloomberg reports. The new debt will have an interest rate of 3.5% more than the London interbank offered rate and will mature in February 2014. JPMorgan Chase is arranging the new loan. The proceeds from the loan are expected to be used by the software and technology services provider to refinance debt. SunGard is cutting pricing on the previous $479.2 million term loan.
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