HighTower talks $750 million of term loans at Libor plus 400-425 bps

By Sara Rosenberg

New York, April 8 – HighTower Holding LLC is shopping its $600 million seven-year term loan B and $150 million delayed-draw term loan available for 18 months with price talk of Libor plus 400 basis points to 425 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

The term loan debt has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal (B2/B-) that launched with a call on Wednesday.

Commitments are due at 5 p.m. ET on April 15.

Proceeds will be used to refinance existing debt and for general corporate purposes.

HighTower, a Thomas H. Lee Partners portfolio company, is a Chicago-based registered investment adviser that owns and provides a suite of mission critical services to independent advisory practices.

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