Edelman Financial plans $46.4 million of 61/2-year mezzanine notes

By Lisa Kerner

Charlotte, N.C., May 16 - Edelman Financial Group Inc. plans to sell $46.4 million of 61/2-year senior subordinated mezzanine notes to Ares Mezzanine Partners LP, according to a PREM14A filing with the Securities and Exchange Commission on Wednesday.

The notes will accrue interest at a fixed rate.

The proceeds will be used to fund Edelman's purchase by Lee Equity Partners LLC. Under the agreement, Edelman is being acquired for $8.85 per share in cash.

Closing is expected in the third quarter, subject to stockholder approval and regulatory approvals.

Other funding will come from a $102.8 million six-year senior secured credit facility and $132 million of equity.

Edelman is a Houston-based wealth management firm.

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