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OneDigital plans new debt financing for buyout by Onex
By Sara Rosenberg
New York, Oct. 8 – OneDigital plans on getting new debt financing to help fund its acquisition by Onex Corp. from New Mountain Capital, according to a market source.
J.P. Morgan Securities LLC, Barclays, Goldman Sachs Bank USA and Golub are the joint lead arrangers on the deal.
The transaction values OneDigital at $2.65 billion.
Other funds for the buyout will come $960 million of equity.
Closing is expected by the end of the year, subject to customary conditions and regulatory approvals.
OneDigital is an Atlanta-based provider of employee benefits insurance brokerage and retirement consulting services.
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