Misys PLC (MSY.LN) said it has completed the refinancing of its credit facilities used to fund the $330 million merger with Allscripts last year.

The company said Wednesday that it has agreed a GBP210 million three-year revolving credit facility, which along with cash generated from the business will be used to pay down the GBP150 million of debt drawn on its existing facilities and the GBP190 million loan from ValueAct Capital that it used to fund the merger of Misys' U.S. healthcare business with rival Allscripts.

At the time of the merger last year, Misys was forced to seek alternative funding after Lehman Brothers collapsed, and its major shareholder ValueAct stepped in.

The new debt facility consists of an GBP80 million term loan and a GBP150 million multi-currency revolving credit facility with a margin range between 2.5% and 3.5% above the London Interbank Offered Rate, or Libor.

The facilities have been arrange with Barclays Capital, HSBC Holdings PLC (HSBA.LN), the Royal Bank of Scotland PLC (RBS.LN), Yorkshire Bank and KFW IPEX-Bank GmbH.

Misys shares closed Tuesday at 156 pence. They have risen 57% since the start of 2009.

 
   Company Web site: www.misys.com 
 
   -By Kathy Sandler, Dow Jones Newswires; 44-207-842-9293; kathy.sandler@dowjones.com