Nuveen gets $50 million loan

Nuveen Investments, the Chicago-based asset manager taken private by Madison Dearborn Partners LLC in 2007, got an additional loan to fully utilize the $500 million second-lien extension available under its credit facility.

Deutsche Bank AG arranged the so-called add-on term loan of $50 million, Kristyna Sujata, a spokeswoman for Nuveen, said today in an e-mail. The credit line has a fixed interest rate of 12.5 percent, and was issued at a discount of 93 cents on the dollar, to yield about 14.5 percent, she said.

Nuveen will use the additional bank line to pay down its first-lien term loan, according to the e-mail. The asset manager has $2.3 billion outstanding on the credit line due November 2014, which was used for its acquisition, according to a May 13 regulatory filing.