Victory Capital launches $952 million term B at Libor plus 275 bps

By Sara Rosenberg

New York, Jan. 8 – Victory Capital Holdings Inc. launched on its lender call on Wednesday a $952 million term loan B (Ba3/BB-) due July 1, 2026 with price talk of Libor plus 275 basis points with a 0% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

RBC Capital Markets and Barclays are the joint lead arrangers on the transaction. Barclays is the administrative agent.

Commitments are due at noon ET on Jan. 15, the source added.

Proceeds will be used to reprice an existing term loan B down from Libor plus 325 bps.

Victory Capital is a Brooklyn, Ohio-based asset management firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.