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AssetMark Financial to launch $250 million term loan on Wednesday
By Sara Rosenberg
New York, Oct. 23 – AssetMark Financial Holdings Inc. is scheduled to hold a bank meeting at 10 a.m. ET in New York on Wednesday to launch a $250 million seven-year first-lien term loan, according to a market source.
Credit Suisse Securities (USA) LLC is the lead bank on the deal.
The term loan is talked with a 0% Libor floor and 101 soft call protection for six months, the source said.
Proceeds will be used to fund a shareholder distribution and for general corporate purposes.
Commitments are due on Nov. 7, the source added.
AssetMark is a Concord, Calif.-based provider of wealth management and technology solutions that power independent financial advisers and their clients.
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