Ascensus to launch $1.05 billion first-lien term loan on Wednesday

By Sara Rosenberg

New York, May 11 – Ascensus will hold a lender call on Wednesday to launch a $1.05 billion seven-year first-lien term loan (B-), according to a market source.

JPMorgan Chase Bank is the left lead on the deal.

Proceeds will be used with a privately placed second-lien term loan to help fund the buyout of the company by Stone Point Capital and GIC from Genstar Capital, Aquiline Capital Partners and Atlas Merchant Capital. Genstar and Aquiline will maintain a minority stake in the company.

Closing is expected in the third quarter, subject to regulatory approvals and other customary conditions.

Ascensus is a Dresher, Pa.-based tech-enabled solutions provider focused on recordkeeping and administration in the U.S. tax advantages savings market.

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