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Advisor Group to launch $700 million credit facilities on Thursday
By Sara Rosenberg
New York, July 24 – Advisor Group Inc. is scheduled to hold a bank meeting at 1 p.m. ET on Thursday to launch $700 million of credit facilities, according to a market source.
Barclays is the left lead arranger on the deal.
The facilities consist of a $100 million five-year revolver and a $600 million seven-year first-lien term loan, the source said.
Proceeds will be used to refinance existing debt, fund the acquisition of Signator Investors Inc., a broker-dealer and investment adviser, fund a dividend to existing shareholders, and pay transaction fees and expenses.
Lightyear Capital and PSP Investments are the sponsors.
Advisor Group is a Phoenix-based network of independent financial advisory firms.
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