Resolute Investment launches $40 million add-on loan at 99.75 OID

By Sara Rosenberg

New York, Jan. 20 – Resolute Investment Managers launched on its call on Wednesday a fungible $40 million add-on first-lien term loan that is talked with an original issue discount of 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 375 basis points with a 1% Libor floor, in line with pricing on the company’s existing roughly $305 million first-lien term loan.

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

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

Proceeds will be used with cash from the balance sheet to fund a shareholder distribution.

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.

© 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.