Victory Capital firms $505 million term loan B at Libor plus 225 bps

By Sara Rosenberg

New York, Nov. 19 – Victory Capital Holdings Inc. set pricing on its $505 million seven-year senior secured incremental first-lien term loan B (Ba2/BB-) at Libor plus 225 basis points, the low end of the Libor plus 225 bps to 250 bps talk, according to a market source.

As before, the term loan has a 0.5% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

BofA Securities Inc. and RBC Capital Markets are the leads on the deal.

Proceeds will be used to fund the acquisition of WestEnd Advisors LLC for $480 million.

Closing is expected this year, subject to customary approvals, conditions and consents.

Victory Capital is a San Antonio-based global asset management firm. WestEnd is a Charlotte, N.C.-based investment management firm.

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