Wealthspire raises $300M in debut bond offering
What's the deal? WealthspireDealroom has a profile for this one. Try Dealroom →, a portfolio company of Madison Dearborn PartnersDealroom has a profile for this one. Try Dealroom →, has raised $300 million in its debut senior notes offering. The bonds carry a 9.00% coupon and are due 2034.
What's the endgame? Wealthspire is an independent wealth management platform operating in the US, Canada, and the UK. The debut in the bond market gives the firm a fresh source of capital beyond its private equity backing.
Who's involved? Paul HastingsDealroom has a profile for this one. Try Dealroom → advised the initial purchasers on the deal. Its team was led by Global Finance co-chair John Cobb, alongside partners Max Kirchner and Jemma McPherson.
The signal: At $300 million, the offering ranks among the larger raises of its kind — placing in roughly the top quarter by amount. A first-time bond sale at a 9.00% coupon signals both investor appetite for the wealth management platform and the price it must pay to tap the debt markets.
Read more: paulhastings.com
Image credit: kenteegardin
