Mariner Wealth firms $100 million term loan at SOFR plus 425 bps

By Sara Rosenberg

New York, Dec. 13 – Mariner Wealth Advisors set pricing on its non-fungible $100 million incremental first-lien term loan due August 2028 (B-) at SOFR plus 425 basis points, the low end of the SOFR plus 425 bps to 450 bps talk, according to market sources.

Also, original issue discount talk on the incremental term loan was revised to a range of 95.5 to 96 from 95, and then firmed at 95.5 after the noon ET recommitment deadline passed, sources said.

The incremental term loan still has 10 bps CSA, a 0.5% floor and 101 soft call protection for six months.

BMO Capital Markets is the lead on the deal.

Proceeds will be used for general corporate purposes, including to fund near-term acquisitions.

Mariner Wealth Advisors is an Overland Park, Kan.-based investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.