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Kaye Scholer Advises on Financing of D+H Corporation’s $1.2 Billion Acquisition of Harland…

July 23, 2013

Kaye Scholer Advises on Financing of D+H Corporation’s $1.2 Billion Acquisition of Harland Financial Solutions

Kaye Scholer is acting as US counsel to a syndicate of banks, led by The Bank of Nova Scotia, in financing the acquisition of Harland Financial Solutions by Davis + Henderson Corporation (D+H). The purchase price is approximately $1.2 billion in cash. The transaction is expected to close in the third quarter of 2013, pending regulatory approval. 

In connection with the acquisition, The Bank of Nova Scotia and Royal Bank of Canada will provide secured credit facilities in an aggregate amount of $1.56 billion and $244 million, $355 million of which replaces D+H’s existing revolving credit facility. The Bank of Nova Scotia and RBC Capital Markets intend to syndicate the credit facilities to other financial institutions prior to the closing.

Toronto-based D+H, a leading North American financial technology provider, expects to expand its US presence and cross-selling opportunities through the acquisition of Harland, a Florida-based core banking software provider.

The Kaye Scholer team is led by Partner Victoria Gilbert, with assistance from Counsel Paul Gibson, David Sausen and Mary Lou Zwick.

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