Vistra Group launches $575 million term loan at Libor plus 300 bps

By Sara Rosenberg

New York, April 30 – Vistra Group launched on Monday its roughly $575 million senior secured first-lien term loan due October 2022 with price talk of Libor plus 300 basis points with a 1% Libor floor and an original issue discount of 99.75, according to a market source.

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

Goldman Sachs Bank USA is the lead bank on the deal.

Commitments are due on Friday, the source added.

Proceeds will be used to refinance an existing $285.9 million first-lien term loan priced at Libor plus 325 bps with a 1% Libor floor, to fund an acquisition and for general corporate purposes.

Baring Private Equity is the sponsor.

Vistra Group is a provider of company formations, trust, corporate and fund administration services.

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