Russell Investments tables $1.16 billion term loan B amend and extend

By Sara Rosenberg

New York, March 15 – Russell Investments pulled its $1.16 billion first-lien term loan B due May 30, 2028 due to market volatility following the collapse of Silicon Valley Bank, according to a market source.

Talk on the term loan had been SOFR plus 400 basis points with a 0.5% floor, an original issue discount of 98 and 101 soft call protection for six months.

Barclays was the left lead on the deal.

Proceeds were going to be used to amend and extend an existing first-lien term loan B due May 30, 2025, which would have been 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.

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