Resolute Investment wraps $70 million add-on term loan at 99.51 OID

By Sara Rosenberg

New York, Nov. 17 – Resolute Investment Managers Inc. completed syndication of a fungible $70 million add-on first-lien term loan B (Ba3/B+) due April 2024 at an original issue discount of 99.51, according to a market source.

Pricing on the add-on term loan is Libor plus 425 basis points with a 1% Libor floor.

During syndication, the add-on term loan was upsized from $60 million.

RBC Capital Markets is the lead arranger on the deal.

Proceeds will be used fund a shareholder distribution.

Pro forma for the transaction, the term loan B totals about $552 million.

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.

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