Advisor Group talks $600 million term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, July 26 – Advisor Group Inc. launched on Thursday its $600 million seven-year first-lien term loan (B+) with price talk of Libor plus 375 basis points to 400 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $700 million of credit facilities also include a $100 million five-year revolver.

Barclays is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on Aug. 9, the source added.

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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