Resolute Investment revises $275 million add-on loan OID to 99.25

By Sara Rosenberg

New York, July 22 – Resolute Investment Managers Inc. revised the original issue discount on its fungible $275 million add-on first-lien term loan B (Ba3/B+) due April 2024 to 99.25 from 99.5, according to a market source.

Also, the company added 101 soft call protection for one year to the add-on term loan, the source said.

Pricing on the add-on term loan is Libor plus 425 basis points with a 1% Libor floor.

The add-on term loan has a maximum total net leverage covenant.

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

Proceeds will be used fund a dividend to shareholders.

In connection with this transaction, the company is increasing pricing on its existing $378 million term loan B to Libor plus 425 bps with a 1% Libor floor from Libor plus 375 bps with a 1% Libor floor.

Resolute Investment, a Kelso & Co. portfolio company, 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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