Kestra Advisor modifies $840 million term loan OID to 99.75

By Sara Rosenberg

New York, March 19 – Kestra Advisor Services Holdings A Inc. changed the original issue discount on its $840 million seven-year first-lien term loan to 99.75 from revised talk of 99.5 and initial talk in the range of 99 to 99.5, according to a market source.

Pricing on the term loan is SOFR plus 400 basis points with a 0% floor.

The term loan has 101 soft call protection for six months.

Previously in syndication, the term loan was upsized from $825 million and pricing was reduced from SOFR plus 425 bps.

The company’s $937.5 million of credit facilities also include a $97.5 million five-year revolver.

UBS Investment Bank is the left lead arranger on the deal.

Recommitments were scheduled to be due at noon ET on Tuesday, the source added.

Proceeds will be used to refinance the company’s existing first-lien credit facilities and, due to the recent upsizing, for general corporate purposes, including future mergers and acquisitions.

Kestra, a Warburg Pincus LLC portfolio company, is an Austin, Tex.-based wealth management platform supporting a broad range of independent financial advisers.

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