Artisan Partners Asset Management, through its subsidiary Artisan Partners Holdings LP, has entered into a new five-year credit agreement for a $150 million revolving credit facility. This new facility, led by Bank of America, N.A. as administrative agent, replaces and terminates the company's previous $100 million revolving credit agreement dated August 16, 2022.
Key Details
- New Facility: A $150 million five-year revolving credit facility, effective September 23, 2026, and maturing on September 23, 2031.
- Important Terms: The agreement includes an option to increase the total commitment amount to a maximum of $225 million. Interest rates on borrowings are based on Term SOFR plus a margin of 1.25% to 2.00%, or a base rate plus a margin of 0.25% to 1.00%, depending on the company's leverage ratio.
- Covenants & Status: The agreement contains customary financial covenants, including a maximum consolidated leverage ratio of 3.00 to 1.00. As of the filing date, there were no outstanding borrowings under the new facility or the prior terminated facility.