Fortress Investment to launch $950 million term loan B on Tuesday

By Sara Rosenberg

New York, Sept. 14 – Fortress Investment Group FinCo I LLC is set to hold a lender call at 11 a.m. ET on Tuesday to launch a $950 million covenant-lite term loan B due June 27, 2025, according to a market source.

Deutsche Bank Securities Inc. and Mizuho are the bookrunners on the deal.

The term loan is talked with 101 soft call protection for six months, the source said.

Proceeds will be used to reprice and extend from December 2022 an existing term loan B.

With this transaction, roughly $100 million of the existing $1.046 billion term loan B will be paid down.

Commitments from new and existing lenders are due at 4 p.m. ET on Friday, the source added.

Fortress Investment is an alternative investment management firm.

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