Reuters - Bain's MYOB Plans $131M Notes Offer to Cut Debt

Accounting software firm MYOB, the sole Australian investment of U.S. private equity firm Bain Capital, plans to offer A$125 million ($131 million) in five-year subordinated notes to help pay down debt and pay a return to its owner, Reuters reported. MYOB said in a statement the proceeds would partly repay senior debt used to finance the buyout of the firm, as well as make a return of capital to Bain. Bain bought MYOB last year for about A$1.3 billion from Australian private equity firm Archer Capital.

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