Russell launches $1.16 billion term loan B at SOFR plus 400 bps

By Sara Rosenberg

New York, March 7 – Russell Investments held a lender call at 1 p.m. ET on Tuesday to launch a $1.16 billion first-lien term loan B due May 30, 2028 that is talked at SOFR plus 400 basis points with a 0.5% floor and an original issue discount of 98, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Barclays is the left lead on the deal and the administrative agent.

Commitments are due at noon ET on March 14, the source added.

Proceeds will be used to amend and extend an existing first-lien term loan B due May 30, 2025, which is being paid down by $100 million with cash on hand.

TA Associates and Reverence Capital Partners are the sponsors.

Russell Investments is a Seattle-based investment solutions provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.