Affiliated Managers Group Inc. on March 8 entered a $385 million senior unsecured term loan credit facility with Bank of America NA as administrative agent and lender, several banks and other financial institutions.
Affiliated Managers may borrow up to an additional $65 million under the term loan facility subject to certain conditions. All the proceeds of the loan under the facility were used to fully repay the $385 million loan under the company's existing senior unsecured term loan credit facility.
The commercial terms of the term loan facility are unchanged from the existing term loan facility, other than interest rates and the maturity date.
In connection with the full repayment of the loan under the existing term loan facility, the company terminated the term credit agreement for the existing term loan facility, dated as of Sept. 22, 2015.
