Mutual Fund Store talks $150 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, July 9 – The Mutual Fund Store (TMFS Holdings LLC) launched on Wednesday a $150 million seven-year first-lien term loan with price talk of Libor plus 450 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year and a maximum first-lien net leverage ratio, the source said.

The company’s $170 million credit facility also includes a $20 million revolver.

Credit Suisse Securities (USA) LLC and BMO Capital Markets are the lead banks on the deal.

Proceeds will be used to refinance existing debt and fund a dividend.

Commitments are due at 5 p.m. ET on July 23.

Mutual Fund Store is a provider of fee-based investment advisory services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.