HighTower launches $150 million add-on term loan at 99.03 OID

By Sara Rosenberg

New York, Dec. 7 – HighTower Holding LLC held a lender call at noon ET on Thursday to launch a fungible $150 million add-on term loan B (B2) due April 2028 talked with an original issue discount of 99.03, according to a market source.

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

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

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

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at noon ET on Tuesday, the source added.

Proceeds will be used to repay some revolving credit facility borrowings and for general corporate purposes, including 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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