Orion Advisor prices $45 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, July 10 – Orion Advisor Solutions wrapped syndication of its $45 million incremental term loan due May 25, 2024 at pricing of Libor plus 375 basis points with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

Included in the incremental term loan is 101 soft call protection for six months.

The incremental loan was originally launched as a fungible add-on to the company’s existing roughly $228 million term loan at a discount of 99, but was changed to be a stand-alone tranche during syndication, the source said.

Pricing on the existing term loan due May 25, 2024 is Libor plus 350 bps with a 0.75% Libor floor.

Antares Capital is the sole lead arranger on the deal.

Proceeds will be used to finance an acquisition.

Closing was scheduled for Wednesday.

Orion Advisor Solutions, formerly known as NorthStar Financial Services Group LLC and a portfolio company of TA Associates, is a provider of SaaS-based platforms focused on accounting, reconciling, reporting and other back-office and administrative functions for asset managers.

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