Osaic to launch $500 million incremental term loan on Thursday

By Sara Rosenberg

New York, Feb. 14 – Osaic Holdings Inc. is scheduled to hold a lender call at 10:30 a.m. ET on Thursday to launch a fungible $500 million incremental first-lien term loan due August 2028 (B1/B/B+), according to a market source.

UBS Investment Bank is the left lead arranger on the deal and the administrative agent.

Pricing on the incremental term loan is SOFR plus 450 basis points with a 0% floor, in line with existing term loan B pricing.

Original issue discount talk on the incremental term loan is not yet available, the source said.

Commitments are due at 10 a.m. ET on Feb. 23.

Proceeds will be used with a $110 million equity contribution to fund the acquisition of Lincoln Financial Group’s wealth management business.

Pro forma leverage is around 4.6x.

Closing is expected in the first half of this year, subject to customary conditions, including regulatory approvals.

Osaic, a portfolio company of Reverence Capital Partners, is a provider of wealth management solutions.

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