Blucora plans $425 million credit facility for HD Vest purchase

By Sara Rosenberg

New York, Oct. 14 – Blucora Inc. has received a commitment for $425 million credit facility to help fund its acquisition of HD Vest Financial Services for about $580 million, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

BMO Capital Markets Corp. is the lead on the deal.

The facility consists of a $25 million revolver and a $400 million first-lien term loan.

Other funds for the transaction will come from cash on hand.

Closing is expected in late 2015 or early 2016, subject to customary conditions and regulatory approvals.

Blucora is a Bellevue, Wash.-based operator of a diverse group of Internet businesses. HD Vest is an Irving, Texas-based broker-dealer providing wealth management and advisory solutions specifically for tax professionals.

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