Orion Advisor to launch $700 million first-lien term loan on Tuesday

By Sara Rosenberg

New York, July 27 – Orion Advisor Solutions (GT Polaris Inc.) is scheduled to hold a lender call at 9 a.m. ET on Tuesday to launch a $700 million seven-year covenant-lite first-lien term loan, according to a market source.

The company’s $1.06 billion of credit facilities also include an $80 million revolver and a $280 million privately placed second-lien term loan, the source said.

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.

Included in the first-lien term loan is 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Aug. 6, the source added.

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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