Kestra Financial firms $145 million add-on term loan at 99.04 OID

By Sara Rosenberg

New York, Nov. 23 – Kestra Financial Inc. (Kestra Advisor Services Holdings A Inc.) finalized the original issue discount on its fungible $145 million add-on first-lien term loan due June 2026 (B2/B-) at 99.04, within the 99 to 99.25 talk, 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, Credit Suisse Securities (USA) LLC, BofA Securities Inc., Goldman Sachs Bank USA and Truist Securities are the lead arrangers on the deal.

The company is also getting a $145 million privately placed second-lien term loan and a $50 million privately placed second-lien delayed-draw term loan.

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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