Financial Engines plans $2.06 billion credit facilities for buyout

By Sara Rosenberg

New York, May 22 – Financial Engines Inc. has received a commitment for $2,055,000,000 of credit facilities to help fund its acquisition by Hellman & Friedman, according to a PREM14A recently filed with the Securities and Exchange Commission.

Morgan Stanley Senior Funding Inc., J.P. Morgan Securities LLC, Barclays, Deutsche Bank Securities Inc. and UBS Investment Bank are the leads on the debt.

The facilities consist of a $150 million revolver, $1.41 billion in first-lien term loans and a $495 million second-lien term loan.

Other funds for the transaction will come from up to $1.45 billion in equity.

Under the agreement, Financial Engines is being bought for $45 per share in cash. The transaction has a total value of about $3.02 billion.

The company will then be combined with Edelman Financial Services, which is majority owned by Hellman & Friedman.

Closing is expected in the third quarter, subject to approval by Financial Engines stockholders, regulatory approval and other customary conditions.

Financial Engines is a Sunnyvale, Calif.-based independent investment adviser. Edelman is an independent financial planning and investment management firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.