Duff & Phelps plans $424 million credit facility with buyout

By Sara Rosenberg

New York, Feb. 6 - Duff & Phelps Corp. plans on getting a $424 million senior secured credit facility to help fund its purchase by the Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group, according to a PREM14A filed with the Securities and Exchange Commission on Wednesday.

Barclays, Credit Suisse Securities (USA) LLC and RBC Capital Markets are the lead banks on the deal.

The facility consists of a $75 million revolver and a $349 million first-lien term loan.

Other funds for the transaction will come from equity.

Under the agreement, Duff & Phelps is being acquired for $15.55 per share in cash in a transaction valued at about $665.5 million.

Closing is expected in the first half of this year, subject to customary conditions including the receipt of stockholder and regulatory approvals.

There is a go shop period through Feb. 8.

Duff & Phelps is a New York-based financial advisory and investment banking firm.

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