Viad gets five-year $100 million revolver, as well as term loan B

By Wendy Van Sickle

Columbus, Ohio, Aug. 2 – Viad Corp. obtained a new five-year $100 million revolving credit facility in addition to its previously reported $400 million term loan B, according to an 8-K filing with the Securities and Exchange Commission.

Revolver borrowings bear interest at a eurocurrency rate plus a margin ranging from 250 basis points to 350 bps, and the unused fee ranges from 30 bps to 50 bps, both depending on the net leverage ratio.

Proceeds may be used to repay existing debt and for working capital and general corporate purposes.

Bank of America, NA, Truist Securities, Inc., Keybanc Capital Markets Inc. and BMO Capital Markets Corp. are the joint lead arrangers and bookrunners.

Bank of America is the administrative agent. Truist Bank, KeyBank NA and BMO Harris Bank NA are the co-syndication agents.

Viad is a Phoenix-based provider of experiential leisure travel and live events and marketing experiences.

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