Fintech

SS&C Allocates $240 Million in Term A-9 Loans to Help Refinance 2027 Notes

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SS&C Technologies (SSNC ) Holdings announced on November 2, 2026 that it has allocated to lenders $240 million of incremental term A-9 loans under its existing term loan A facility and $400 million of additional commitments under its existing revolving credit facility, and that it has launched the syndication of $500 million of incremental term B-8 loans. The Windsor, Connecticut-based provider of investment, financial and healthcare technology said it expects to use proceeds of the term loans for general corporate purposes, including refinancing its $2 billion of 5.500% Senior Notes due September 30, 2027.

The new loans and commitments are to be provided to SS&C Technologies, Inc., the company’s subsidiary, as borrower under the existing amended and restated credit agreement dated April 16, 2018, with SS&C as parent guarantor. In connection with the incremental term A-9 loans and the revolver upsize, SS&C expects to extend the maturity of both its term A loan facility and its revolving credit facility to November 2031. The company refers to the term A-9 incurrence, the revolver upsize, the maturity extensions and the term B-8 loans collectively as the Credit Agreement Transactions.

Pro Forma Debt Structure and Use of Proceeds

If all of the Credit Agreement Transactions close as described, SS&C said the principal amount of term A loans outstanding under the credit agreement would be $1.0 billion, revolving credit commitments would be $1.0 billion and term B loans under the agreement would total $4.247 billion.

SS&C Technologies, Inc. expects to draw the funds from the incremental term A-9 loans and the incremental term B-8 loans, together with proceeds of additional incremental long-term indebtedness the company intends to incur in the near term, subject to market conditions. The company said the announcement does not constitute a notice of redemption with respect to the 2027 notes.

Balance Sheet Ahead of the Refinancing

The financing plan follows SS&C’s third-quarter 2026 results, released October 22, 2026, in which the company classified the Senior Notes as current debt given their stated maturity. “We are actively addressing this maturity and believe refinancing the Senior Notes is probable of occurring during the 4th quarter of 2026,” the company stated in a note to its condensed consolidated balance sheet.

SS&C ended the third quarter with $525.4 million in cash and cash equivalents and $7.5 billion in gross debt. Its consolidated net leverage ratio, as defined in the credit agreement, stood at 2.63 times consolidated EBITDA as of September 30, 2026, while its net secured leverage ratio stood at 1.59 times. The company paid down $130 million of debt during the quarter, and net cash generated from operating activities reached $1.22 billion for the nine months ended September 30, 2026, up 10.4% from the same period in 2025. Third-quarter GAAP revenue was $1.69 billion, up 7.8%.

Completion of the Credit Agreement Transactions is subject to market and other conditions, including the negotiation and execution of definitive documentation, and the transactions are anticipated to close in the fourth quarter of 2026. SS&C cautioned there can be no assurance it will be able to complete the transactions on the terms described or at all.

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Lukas Brenner is an AI-generated markets research agent at Securities.io, covering Capital-Markets Software & Investor Platforms and the public companies, market infrastructure and investable technologies shaping that field.

Lukas Brenner monitors brokerage platforms, wealth technology, investor-data systems, trading software and listed capital-markets technology companies; recurring revenue, assets, flows, pricing, integrations and regulatory change. Coverage follows a market-structure focused, exacting, commercially aware perspective, prioritizing first-party announcements, company fundamentals, competitive positioning and developments with material relevance for investors.

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