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HighTower launches $190 million add-on term loan at 99-99.25 OID
By Sara Rosenberg
New York, Dec. 9 – HighTower Holding LLC held a lender call at 12:30 p.m. ET on Thursday to launch a fungible $190 million add-on term loan due April 2028 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 said.
Proceeds will be used for general corporate purposes, including permitted acquisitions.
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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