Grosvenor launches $466 million term loan B at Libor plus 275-300 bps

By Sara Rosenberg

New York, March 19 – Grosvenor Capital Management launched on Monday its $466 million senior secured term loan B due March 2025 with price talk of Libor plus 275 basis points to 300 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Goldman Sachs Bank USA and UBS Investment Bank are the lead banks on the deal.

Proceeds will be used to amend and extend an existing term loan B due August 2023 that is priced at Libor plus 300 bps with a 1% Libor floor.

Commitments are due on March 27, the source added.

Grosvenor Capital is a Chicago-based independent alternative asset management firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.