Mariner Wealth firms $100 million term loan at par issue price

By Sara Rosenberg

New York, Jan. 22 – Mariner Wealth Advisors set the issue price on its fungible $100 million incremental covenant-lite first-lien term loan due August 2028 (Ba3/B-) at par, the tight end of the 99.75 to par talk, according to a market source.

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

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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