Orion Advisor talks $700 million term loan at Libor plus 425-450 bps

By Sara Rosenberg

New York, July 28 – Orion Advisor Solutions (GT Polaris Inc.) launched on Tuesday its $700 million seven-year covenant-lite first-lien term loan (B2/B) with price talk of Libor plus 425 basis points to 450 bps with a 1% Libor floor and an original issue discount of 98, according to a market source.

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

Commitments are due at 5 p.m. ET on Aug. 6.

The company’s $1.06 billion of credit facilities also include an $80 million revolver (B2/B) and a $280 million privately placed second-lien term loan.

Credit Suisse Securities (USA) LLC, UBS Investment Bank, BMO Capital Markets, Citizens, Evolution and SunTrust Robinson Humphrey Inc. are the lead arrangers on the deal.

Proceeds will be used to help fund the acquisitions of Orion and Brinker Capital by Genstar Capital and Orion’s existing financial partner, TA Associates.

Orion is a provider of a tech-enabled fiduciary framework. Brinker is an investment management company.

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