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Hamilton Lane tightens discount on $260 million term loan B to 99.75
By Sara Rosenberg
New York, July 1 – Hamilton Lane Advisors LLC revised the original issue discount on its $260 million seven-year senior secured term loan B to 99.75 from talk of 99 to 99.5, according to a market source.
Pricing on the term loan is still Libor plus 350 basis points with a 0.75% Libor floor, and there is still 101 soft call protection for six months and a maximum total net leverage ratio.
Recommitments were due as soon as possible with allocations targeted for Thursday, 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.
Closing is expected on July 9.
Hamilton Lane is a financial institution that provides discretionary and non-discretionary private equity asset management services.
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