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Cetera to launch $125 million incremental term loan on Thursday
By Sara Rosenberg
New York, March 24 – Cetera is set to hold a lender call at 3 p.m. ET on Thursday to launch a fungible $125 million incremental first-lien term loan, according to a market source.
UBS Investment Bank is the left lead on the deal.
Commitments are due on March 31, the source added.
Proceeds will be used with $400 million of unsecured debt to fund the acquisition of certain assets related to the independent financial planning channel of Voya Financial Advisors and to repay an existing second-lien term loan.
Cetera, acquired by Genstar in July 2018, is an El Segundo, Calif.-based financial advice firm.
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