OneDigital launches $1.43 billion credit facilities to investors

By Sara Rosenberg

New York, Oct. 21 – OneDigital held a lender call on Wednesday to launch its $1.43 billion of credit facilities (B3/B), according to a market source.

The debt is split between a $150 million five-year revolver, a $1.08 billion seven-year first-lien term loan and a $200 million delayed-draw first-lien term loan.

J.P. Morgan Securities LLC, Barclays, Goldman Sachs Bank USA and Golub are the joint lead arrangers on the deal.

Proceeds will be used to help fund the acquisition of the company by Onex Corp. from New Mountain Capital in a transaction that 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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