Shearman & Sterling advised Nomura Corporate Funding Americas LLC, as Administrative Agent, on incremental amendments to Applied Systems, Inc’s existing first lien credit facility and second lien credit facility pursuant to which (i) $470 million in incremental term loans and $30 million in incremental revolving loans were incurred under the first lien facility to finance the acquisition of Webcetera, L.P. by Applied Systems, Inc., (ii) $1.82 billion of the existing term loans under the first lien facility were repriced, (iii) $615 million of the existing term loans under the second lien facility were repriced, and (iv) the maturity date for the $50 million in existing first lien revolving commitments was extended.

Applied Systems, Inc. develops and provides software solutions and services for the insurance industry. The company provides Epic, an agency and brokerage management system for insurance agencies to optimize business for growth and to build client relationships; TAM, an agency management software that allows agencies to manage day-to-day business operations; DORIS, an online agency management system that provides access to fundamental features, functions, and workflows needed to run an agency, including automated interface with various insurance carriers; and Vision, which enables agencies to manage complex business structures and complicated commercial lines of coverage, specialty lines of business, or nontraditional niche markets.

The Team