Windsor financial software and services provider SS&C Technologies Inc. secured a maximum $200 million credit line through Bank of America, which the acquisition-hungry financial-services software maker is likely to use for more deals.
SS&C announced the new credit line late Monday, which the company already used to repay all its outstanding other credit facilities.
It said the agreement with Bank of America provides SS&C with a $125 million revolving credit line through Dec. 15, 2016, and can be expanded by another $75 million under certain undisclosed circumstances.
The credit line can be used for SS&C’s working capital needs and general corporate purposes, including refinancing existing indebtedness and performing acquisitions.
In the past decade, SS&C has swallowed up 26 mostly smaller companies, according to the company’s Web site.
Its latest acquisition was the September buyout of Irish fund administrator BDO Simpson Xavier Fund, giving SS&C entry to Europe’s regulated funds market.
SS&C also announced late Monday completion of its $66.6 million redemption of the outstanding principal amount of its 11.75 percent senior subordinated notes due 2013.
