Chicago, Aug. 17 – Artisan Partners Holdings LP privately placed $90 million of notes that were used to replace a previous issue of senior notes maturing on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.
The new notes carry a 3.1% coupon and have a 10-year tenor.
The notes were used to repay $90 million of 4.98% series C senior notes due Aug. 16.
Covenants for the new notes limit the company’s leverage ratio to not more than 3x.
Additionally, the interest coverage ratio for any period of four consecutive fiscal quarters can not be less than 4x.
If there is a change of control, Artisan needs to offer to pre-pay the notes.
The company also noted that it amended and restated its $100 million revolver and extended it for an additional five years on Tuesday.
Artisan Partners Holdings has Artisan Asset Management Inc. as its sole general partner. Artisan is a Milwaukee-based independent investment management firm.
| Issuer: | Artisan Partners Holdings LP
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| Amount: | $90 million
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| Issue: | Notes, series F
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| Maturity: | Aug. 16, 2032
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| Coupon: | 3.1%
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| Change of control: | At par
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| Settlement date: | Aug. 16
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| Distribution: | Private placement
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