Wells Fargo Asset to launch $1.41 billion credit facilities Tuesday

By Sara Rosenberg

New York, April 12 – Wells Fargo Asset Management is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch $1.41 billion of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.

The facilities consist of a $170 million revolver and a $1.24 billion first-lien term loan B, the source said.

Proceeds will be used to help fund the $2.1 billion acquisition of the company by GTCR LLC and Reverence Capital Partners LP from Wells Fargo & Co., and pay fees, expenses and original issue discount related to the transaction.

Closing is expected in the second half of this year following the receipt of regulatory approvals and contractual consents.

Wells Fargo Asset is an asset management firm.

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