HarbourVest Partners to launch $550 million term loan on Friday

By Sara Rosenberg

New York, Nov. 10 - HarbourVest Partners LLC is scheduled to hold a bank meeting on Friday to launch its proposed $550 million term loan, according to a market source.

Credit Suisse is the lead bank on the deal.

The term loan is being talked at Libor plus 425 basis points with a 1.5% Libor floor and an original issue discount of 99, the source said.

Proceeds will be used for a recapitalization.

HarbourVest is a Boston-based investment firm that provides private equity services to institutional clients.

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