Rockefeller Capital gets $700 million term loan at SOFR plus 500 bps

By Sara Rosenberg

New York, April 4 – Rockefeller Capital Management (RFS Opco LLC) closed on Thursday on a $700 million seven-year senior secured covenant-lite first-lien term loan priced at SOFR plus 500 basis points with a 0.5% floor and an original issue discount of 99, according to a market source.

The term loan has a 25 bps leverage-based step-down and a 25 bps step-down upon an initial public offering, the source said.

Also, the term loan has 101 hard call protection for one year, 0 bps CSA and amortization of 1% per annum.

Morgan Stanley Senior Funding Inc. is the sole bookrunner on the deal. Morgan Stanley, Morgan Stanley Private Credit, PNC, RBC Capital Markets and Synovus are joint lead arrangers. Ares is the administrative agent.

Proceeds are being used to refinance existing debt and for general corporate purposes.

Rockefeller Capital is a New York-based investment advisory firm.

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