New York, Aug. 18 – Artisan Partners Holdings LP issued $60 million of series D senior notes due 2025 with a 4.29% coupon, according to an 8-K filing with the Securities and Exchange Commission.
Merrill Lynch, Pierce Fenner and Smith, Inc. and Citigroup Global Markets, Inc. were the agents.
Proceeds were used to redeem $60 million of 4.98% series A senior notes that matured on Aug. 16.
The note terms require the issuer to keep its leverage ratio at or below 3 to 1 and its interest coverage ratio for any four consecutive fiscal quarters at 4 to 1 or higher.
Artisan will be required to prepay the notes on a change of control or if its assets under management fall below an average of $45 billion in a quarter.
Artisan Partners Holdings has Artisan Asset Management Inc. as its sole general partner. Artisan is a Milwaukee-based independent investment management firm.
| Issuer: | Artisan Partners Holdings LP
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| Issue: | Series D senior notes
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| Amount: | $60 million
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| Maturity: | Aug. 16, 2025
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| Coupon: | 4.29%
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| Call: | Make-whole call at Treasuries plus 50 bps
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| Settlement: | Aug. 26
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| Agents: | Merrill Lynch, Pierce Fenner and Smith, Inc. and Citigroup Global Markets, Inc.
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| Distribution: | Private placement
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