Artisan Partners (APAM) signs $150M 5-year revolver, replacing $100M facility maturing 2027

Artisan Partners Asset Management Inc.

New $150M revolving credit facility matures Sept 23, 2031; commitments may increase to $225M; Bank of America is administrative agent and L/C issuer.
Interest at Term SOFR plus 1.25%-2.00% or base rate plus 0.25%-1.00%, based on leverage; unused commitment fee 0.125%-0.275%.
Replaces $100M facility dated Aug 16, 2022, which was to mature Aug 16, 2027; no borrowings outstanding under either facility at closing.
Covenants: consolidated leverage ratio ≤ 3.00:1.00 (temporary 3.50:1.00 after qualifying acquisitions); interest coverage ≥ 4.00:1.00.
Guarantors: Artisan Partners Limited Partnership and Grandview Property Partners, LLC, both wholly-owned subsidiaries of Holdings.

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