Kestra Financial launches $145 million term loan at 99-99.25 OID

By Sara Rosenberg

New York, Nov. 15 – Kestra Financial Inc. (Kestra Advisor Services Holdings A Inc.) launched on Monday its fungible $145 million add-on first-lien term loan with original issue discount talk of 99 to 99.25, according to a market source.

Pricing on the add-on term loan is Libor plus 425 basis points with a 0% Libor floor, in line with existing first-lien term loan pricing.

UBS Investment Bank is the lead arranger on the deal.

Commitments are due on Nov. 22, the source added.

Proceeds will be used for a dividend recapitalization, to fund acquisitions and to add cash to the balance sheet.

Kestra Financial, a Warburg Pincus LLC portfolio company, is an Austin, Tex.-based provider of an advisor platform to financial professionals.

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