Orion Advisor accelerates first-lien term loan commitment deadline

By Sara Rosenberg

New York, July 31 – Orion Advisor Solutions (GT Polaris Inc.) moved up the commitment deadline for its $700 million seven-year covenant-lite first-lien term loan (B2/B/BB-) to noon ET on Tuesday from 5 p.m. ET on Thursday, a market source remarked.

Talk on the first-lien term loan is Libor plus 425 basis points to 450 bps with a 1% Libor floor, an original issue discount of 98 and 101 soft call protection for six months.

The company’s $1.06 billion of credit facilities also include an $80 million revolver (B2/B) and a $280 million privately placed second-lien term loan.

Credit Suisse Securities (USA) LLC, UBS Investment Bank, BMO Capital Markets, Citizens, Evolution and SunTrust Robinson Humphrey Inc. are the lead arrangers on the deal.

Proceeds will be used to help fund the acquisitions of Orion and Brinker Capital by Genstar Capital and Orion’s existing financial partner, TA Associates.

Orion is a provider of a tech-enabled fiduciary framework. Brinker is an investment management company.

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