Russell Investments sets $838 million term B at Libor plus 325 bps

By Sara Rosenberg

New York, March 26 – Russell Investments firmed pricing on its $838 million first-lien term loan B due June 1, 2023 at Libor plus 325 basis points, the low end of the Libor plus 325 bps to 350 bps talk, according to a market source.

The term loan still has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

Barclays, Macquarie Capital (USA) Inc. and Credit Suisse Securities (USA) LLC are the bookrunners on the deal.

Proceeds will be used to reprice an existing term loan B down from Libor plus 425 bps with a 1% Libor floor.

Russell Investments is a Seattle-based asset manager.

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