HighTower launches $115 million add-on term loan at 99-99.25 OID

By Sara Rosenberg

New York, Aug. 12 – HighTower Holding LLC held a lender call at 11 a.m. ET on Thursday to launch a fungible $115 million add-on term loan (B2) that is talked with an original issue discount of 99 to 99.25, according to a market source.

Pricing on the add-on term loan is Libor plus 400 basis points with a 0.75% Libor floor.

JPMorgan Chase Bank is the lead on the deal.

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

Proceeds will be used for general corporate purposes and acquisition activity.

HighTower 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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