Vivid Seats launches $240 million term loan at Libor plus 550-575 bps

By Sara Rosenberg

New York, Feb. 3 – Vivid Seats Ltd. launched on Wednesday its $240 million seven-year first-lien term loan with price talk of Libor plus 550 basis points to 575 bps with a 1% Libor floor and an original issue discount of 98, according to a market source.

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

RBC Capital Markets and SG Americas Securities LLC are the leads on the deal.

Commitments are due at 5 p.m. ET on Feb. 17, the source added.

The debt is being obtained in connection with the company’s strategic partnership with Vista Equity Partners.

Vivid is a Chicago-based full-service secondary ticket marketplace for live sports, concerts and theater events.

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