Osaic plans $500 million incremental term loan led by UBS

By Sara Rosenberg

New York, Jan. 31 – Osaic Inc. plans on getting a $500 million incremental term loan to help fund its acquisition of Lincoln Financial Group’s wealth management business, according to a market source.

UBS Investment Bank is the lead on the term loan.

Other funds for the $1.02 billion purchase price will come from a $110 million equity contribution.

Pro forma leverage is around 4.6x, the source added.

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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