HighTower amends revolver with BMO, PNC to lift size to $150 million

By Jennifer Chiou

New York, Jan. 28 – HighTower said it increased its revolving credit facility to $150 million from $100 million. The facility, which was originated by BMO Harris Bank and PNC Bank, adds SunTrust Bank.

According to a press release, proceeds will be used to fund continued growth.

“HighTower’s growth and momentum reflects the once-in-a-lifetime secular shift in the financial services industry,” chief executive officer Elliot Weissbluth said in the release.

“In a post-credit crisis world, securing this kind of credit means that the company must demonstrate strong and sustainable financial health coupled with the ability to thoughtfully deploy the capital and grow profitably.”

The Chicago-based financial services firm provides wealth management advice through a national network of advisers.

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