Hamilton Lane launches $260 million term loan B at Libor plus 350 bps

By Sara Rosenberg

New York, June 22 – Hamilton Lane Advisors LLC launched on Monday its $260 million seven-year senior secured term loan B with price talk of Libor plus 350 basis points with a 0.75% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months and a maximum total net leverage ratio, the source said.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Proceeds will be used to fund the buyback of equity interests, to refinance existing debt, to fund a distribution to equity holders and for general corporate purposes.

Commitments are due on July 7, and closing is expected on July 9, the source added.

Hamilton Lane is a financial institution that provides discretionary and non-discretionary private equity asset management services.

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