REG-Misys: Statement re: Early Completion of Refinancing - Released: 2009/05/27

 
27 May 2009
                                   MISYS plc                                   
                 Statement Re: Early Completion of Refinancing                 
Misys plc (MSY.L) today 27 May 2009 announces the signing of a new 3-year bank
facility from a lending group of five banks. The facility, for a total of £210
million, comprises an £80 million term loan and a £130 million multi-currency
revolving credit facility, at a margin range of between 2.5% and 3.5% above the
interbank offered rate. The new facility, together with cash generated from
operations, will repay in full the current debt drawn under Misys' previous
$150 million bank revolving credit facility and $190 million ValueAct Capital
subordinated loan facility. The previous bank credit facility and ValueAct
subordinated loan were entered into in connection with the merger to create
Allscripts-Misys Healthcare Solutions, Inc. The new facility will be used for
general corporate purposes and will provide future financial flexibility.
The new facility has been arranged by Barclays Capital, HSBC Bank plc, The
Royal Bank of Scotland plc, Yorkshire Bank and KFW IPEX-Bank GMBH. The Royal
Bank of Scotland plc acted as co-ordinating agents for the transaction.
James Gelly, EVP & CFO said: "I am pleased to announce this refinancing well
ahead of the maturity of the existing lending arrangements and to welcome three
new banks to the lending group. This is a positive endorsement of the Misys
turnaround, the strength of our business model and strong recurring revenue
base."
Misys plc preliminary results are expected to be announced in late July 2009.
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INQUIRIES
MEDIA                                  ANALYST / INVESTORS                    
                                                                              
Carl Gibson                            Stephen Wilson                           
T: +44 (0) 20 3320 5526                T:  + 44 (0) 20 3320 5561               
M: +44 (0) 782 523 6473                M:  + 44 (0) 7764 666 337               
Email: carl.gibson@misys.com           Email: stephen.wilson@misys.com        
                                                  
ABOUT MISYS PLC
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that
deliver significant results to organisations in the financial services and
healthcare industries. We maximise value for our customers by combining our
deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over
1,200 customers, including all of the world's top 50 banks. In healthcare,
Misys plc owns a controlling stake in NASDAQ listed Allscripts-Misys Healthcare
Solutions, Inc, a clear leader in the provision of healthcare information
technology, serving more than 150,000 physicians, 700 hospitals and nearly
7,000 post-acute and homecare organisations. Misys employs 6,000 people who
serve customers in more than 120 countries.
We aspire to be the world's best application software and services company,
delivering results for the most important industries in the world.
Misys: Experience, Solutions, Results
                                                                               
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