Deerfield Triarc plans $155 million term loan

By Sara Rosenberg

New York, July 11 - Deerfield Triarc Capital Corp. is planning on coming to market with a $155 million five-year senior secured term loan (B), according to recent filings with the Securities and Exchange Commission.

UBS and Bank of America are the joint lead arrangers and joint bookrunners on the deal.

Covenants will include maximum senior leverage, minimum interest coverage and minimum tangible net worth requirements.

Proceeds will be used to help fund the acquisition of Deerfield & Co. LLC from Triarc Cos., Inc. for about $290 million, consisting of about $145 million in stock and $145 million in cash.

Deerfield Triarc is a Rosemont, Ill., diversified financial company. Deerfield is a Chicago-based investment advisor.

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