Resolute to launch $50 million add-on, maturities extension Thursday

By Sara Rosenberg

New York, Oct. 21 – Resolute Investment Managers, Inc. will hold a lender call at 3 p.m. ET on Thursday to launch a $50 million add-on first-lien term loan and an extension of the maturities of its existing first- and second-lien term loans, according to a market source.

RBC Capital Markets, LLC, Barclays and BMO Capital Markets Corp. are the joint lead arrangers on the deal.

Proceeds from the add-on term loan will be used for general corporate purposes and future acquisitions.

Under the extension, the company will push out the maturity on its existing $281 million first-lien term loan to April 2024 from April 2022 and on its existing $105 million second-lien term loan to April 2025 from April 2023, the source said.

Current pricing on the existing first-lien term loan is Libor plus 325 basis points with a 1% Libor floor, and current pricing on the existing second-lien term loan is Libor plus 750 bps with a 1% Libor floor.

The existing credit agreement has a total net leverage financial covenant.

Resolute Investment is an Irving, Tex.-based diversified asset management platform that partners with investment managers on both an affiliated and unaffiliated basis.

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