Tegra118 Wealth Solutions wraps $353M term loan B repricing; terms

Tegra118 Wealth Solutions Inc. has wrapped a repricing of its $353 million first-lien term loan due February 2027 (L+400, 0% Libor floor), which priced at par, sources said. Citi acted as lead arranger for the transaction, which cleared in line with talk and reprices the loan from L+475, with a 0% floor. The loan was originally placed in February 2020 to finance the acquisition by Motive Partners of a majority stake in Fiserv Investment Solutions Inc., a provider of software to the wealth and asset management industry, from Fiserv, which retained an equity interest. The company returned to market in October 2020 to tack on $25 million to repay its revolver. On Feb. 2, Motive Partners and Clearlake Capital Group announced they agreed to acquire 80% of InvestCloud and combined it with existing Motive portfolio companies Finantix and Tegra118. Coinvestments came from Accenture, Citi Ventures and Fiserv. Terms: