Russell Investments launches $200 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, Feb. 9 – Russell Investments launched on Thursday its fungible $200 million add-on term loan B due 2023 with price talk of Libor plus 575 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

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

Barclays is the bookrunner on the deal.

Proceeds will be used to fund a one-time distribution to shareholders and pay transaction related fees and expenses.

Commitments are due at 5 p.m. ET on Feb. 16, the source added.

Russell Investments is a Seattle-based asset manager.

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