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Resolute launches $105 million second-lien loan at Libor plus 750 bps
By Sara Rosenberg
New York, Oct. 26 – Resolute Investment Managers launched on Thursday a $105 million second-lien term loan that is talked at Libor plus 750 basis points with a 1% Libor floor and a par issue price, according to a market source.
The term loan includes hard call protection of 102 in year one and 101 in year two, the source said.
RBC Capital Markets LLC and Barclays are the joint lead arrangers and bookrunners on the deal.
Proceeds will be used to reprice an existing second-lien term loan down from Libor plus 875 bps with a 1% Libor floor.
Commitments are due on Tuesday, the source added.
Resolute Investment, formerly known as American Beacon Advisors Inc., is an Irving, Texas-based provider of investment advisory services to institutional and retail markets.
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