Resolute Investment revises OID on $75 million add-on loan to 99.875

By Sara Rosenberg

New York, March 10 – Resolute Investment Managers tightened the original issue discount on its fungible $75 million add-on first-lien term loan (Ba2) to 99.875 from 99.5, according to a market source.

Pricing on the add-on loan is Libor plus 450 basis points with a 1% Libor floor.

As before, the add-on and the existing first-lien term loan will get 101 soft call protection for six months.

RBC Capital Markets and Barclays are the joint bookrunners on the deal.

Recommitments are due at noon ET on Monday, the source said.

Proceeds will be used to help fund the acquisition of a controlling interest of Shapiro Capital Management LLC.

Resolute Investment, formerly known as American Beacon Advisors Inc., is an Irving, Texas-based provider of investment advisory services to institutional and retail markets. Shapiro is an Atlanta-based investment adviser.

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