RLPC-DIFC’s $300 mln SmartStream loan to rise to $500 mln

LONDON, March 6 (Reuters) – The $300 million syndicated loan backing Dubai government agency DIFC Investments’ acquisition of SmartStream Technologies Group Plc is likely to be increased to $500 million after successful syndication, banking sources said on Thursday.

The one-year loan, which is being made through D-Clear Europe and is guaranteed by DIFC, is led by mandated lead arrangers Goldman Sachs and WestLB.

Lenders will be scaled back before the deal allocates and signs next week, sources said.

DIFC Investments, an agency of the Dubai International Financial Centre, purchased SmartStream with private equity firm TA Associates for 200 million pounds ($391.7 million), the Dubai investor said in a statement in November.

SmartStream, which specialises in software for financial services firms, will help DIFC build a platform for data management and trade processing, DIFC Investments said.

DIFC is rated A+ by S&P and A1 by Moody’s.