Akin Gump Advises Sungard Availability Services in Extension of Debt Maturities
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(New York) – Sungard Availability Services (Sungard AS), a leading provider of highly available, cloud-connected infrastructure in North America and Europe, today announced definitive agreements with its lenders to extend substantially all of its debt maturities from 2022 until 2024. A team from Akin Gump advised Sungard AS in the transaction.
The amendments extend the maturities of both the senior and junior term loans and provide additional flexibility to continue investment in and execution of Sungard AS’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.
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The Akin Gump team advising Sungard AS was led by Dan Fisher, leader of the firm’s integrated special situations group, and special situations finance partner Jaisohn Im.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
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