Kestra Financial to launch $485 million credit facilities on Thursday

By Sara Rosenberg

New York, April 10 – Kestra Financial Inc. will hold a bank meeting at 2 p.m. ET on Thursday to launch $485 million of credit facilities (B+), according to a market source.

UBS Investment Bank, Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch, Goldman Sachs Bank USA and SunTrust Robinson Humphrey Inc. are the leads on the deal.

The facilities consist of a $75 million five-year revolver and a $410 million seven-year term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Warburg Pincus LLC. Stone Point Capital LLC, Kestra Financial’s current majority owner, will maintain a minority stake in the company.

Closing is expected in the second quarter or early in the third quarter, subject to customary regulatory approvals.

Kestra Financial is an Austin, Texas-based provider of an advisor platform to financial professionals.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.