MSC Seeks $215M Loan to Pay Dividend to Symphony Tech, Elliott Associates–CORRECTED

We have another dividend recap.

MSC Software is in the market for a $215 million loan, according to Thomson Reuters Loan Pricing Corp.

BofA Merrill Lynch is leading the deal, LPC said. MSC is owned by Symphony Technology Group and Elliott Associates.

Proceeds of the loan would fund a dividend to the sponsors, LPC said. Standard & Poor’s LCD also reported the dividend Thursday. The size of the dividend is unclear.

In 2009, Symphony Technology Group agreed to buy MCS for $360 million. Elliott Associates was the largest stockholder and retained a stake.

Palo Alto, Calif.-based Symphony Technology is a PE firm that invests in software and services company.

MSC couldn’t be reached for comment.

CORRECTION: The name of the company is MSC Software not MCS Software.