Victory Capital launches $100 million add-on term loan at 99.75-par

By Sara Rosenberg

New York, Jan. 24 – Victory Capital Operating LLC launched with a lender call on Tuesday a $100 million add-on term loan with original issue discount talk of 99.75 to par, according to a market source.

The add-on term loan is priced at Libor plus 750 basis points with a 1% Libor floor.

RBC Capital Markets is the lead on the deal.

Proceeds will be used to fund a dividend.

The company will need to amend its existing credit facility to allow for the one-time dividend.

Lenders are being offered a 25 bps amendment fee, the source said.

Consents to the amendment are due on Jan. 31, and commitments to the add-on term loan are due on Feb. 2, the source added.

Including the add-on, the company’s term loan will total $539 million.

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

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