AssetMark Financial pays down $125 million term loan due 2025

By Marisa Wong

Los Angeles, July 30 – AssetMark Financial Holdings, Inc. announced it paid off $125 million on its seven-year term loan that matures in 2025, or roughly half of its outstanding term loan debt.

AssetMark funded the paydown with proceeds from its initial public offering earlier this month, together with cash on hand, according to a news release.

As of July 30, after giving effect to the paydown, AssetMark had $124.4 million of debt outstanding under its term loan incurred in November 2018. The term loan matures in November 2025 and bears interest at Libor plus 325 basis points.

AssetMark is a Concord, Calif.-based provider of wealth management and technology services.

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