Hamilton Lane Advisors and Aristotle loans free up in quiet pre-holiday trading market

By Sara Rosenberg

New York, July 2 – Hamilton Lane Advisors LLC’s term loan made its way into the secondary market on Thursday, with the debt seen trading above its original issue discount, and Aristotle Corp.’s credit facility broke as well.

Hamilton Lane’s $260 million seven-year senior secured term loan B began trading on Thursday, with levels quoted at 100 5/8 bid, 101 1/8 offered, according to a trader.

Pricing on the term loan is Libor plus 350 basis points with a 0.75% Libor floor, and it was sold at an original issue discount of 99.75, after tightening the other day from talk of 99 to 99.5.

Another deal to free up for trading was Aristotle, with its $130 million six-year term loan seen at 99˝ bid, 100˝ offered, a trader remarked.

The term loan is priced at Libor plus 450 bps with a step-down to Libor plus 425 bps based on leverage and a 1% Libor floor. The debt was issued at 99.5.

During syndication, pricing on the term loan was reduced from Libor plus 475 bps, the step-down was added and the discount was modified from 99.

The company’s $160 million credit facility also provides for a $30 million five-year revolver.

In other news, Anchor Glass Container Corp. completed its $465 million seven-year first-lien covenant-light term loan (B3/BB-), according to a news release.

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