Mariner Wealth launches $100 million term loan at 99.75-par OID

By Sara Rosenberg

New York, Jan. 17 – Mariner Wealth Advisors launched on Wednesday its fungible $100 million incremental covenant-lite first-lien term loan due August 2028 with original issue discount talk of 99.75 to par, according to a market source.

Pricing on the incremental term loan is SOFR+CSA plus 325 basis points with a 0.5% floor.

The incremental term loan does not have any call protection.

BMO Capital Markets, RBC Capital Markets and UBS Investment Bank are the arrangers on the deal.

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

Proceeds will be used to reprice an existing non-fungible incremental term loan down from SOFR+CSA plus 425 bps with a 0.5% floor.

Leonard Green & Partners is the sponsor.

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

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