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Mariner launches $400 million term loan at Libor plus 325-350 bps
By Sara Rosenberg
New York, July 29 – Mariner Wealth Advisors launched on Thursday its $400 million term loan (B1/B), of which $100 million is delayed-draw, with price talk of Libor plus 325 basis points to 350 bps with a 0.5% Libor floor and an original issue discount of 99, according to a market source.
The term loan has 101 soft call-protection for six months, the source said.
BMO Capital Markets, RBC Capital Markets and UBS Investment Bank are the leads on the deal.
Commitments are due at noon ET on Aug. 11, the source added.
Proceeds will be used to refinance existing debt and for acquisition financing.
Mariner Wealth Advisors is an investment adviser.
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