Cetera Financial to launch $265 million term loan B on Tuesday

By Sara Rosenberg

New York, July 15 - Cetera Financial Group Inc. set a bank meeting for 10:30 a.m. ET in New York on Tuesday to launch a $265 million six-year term loan B, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, the source said.

The term loan has 101 soft call protection for one year.

Proceeds will be used to refinance existing debt, fund an acquisition and pay a dividend to shareholders.

Cetera is a Denver-based financial advisor network that provides wealth management and advisory platforms to independent financial advisors.

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