Vertex Aerospace ups spread on $913 million loan to SOFR plus 325 bps

By Sara Rosenberg

New York, Sept. 28 – Vertex Aerospace Services Corp. increased pricing on its $913 million term loan B (B1/B+) due Dec. 6, 2028 to SOFR plus 325 basis points from SOFR plus 300 bps and removed the 25 bps step-up at more than 3.75x first-lien net leverage, according to a market source.

The term loan still has 10 bps CSA, a 0.75% floor, an original issue discount of 99.875 for both rollover and new money commitments, and 101 soft call protection for six months.

RBC Capital Markets is the lead on the deal.

Commitments were scheduled to be due at 3 p.m. ET on Thursday, the source added.

Proceeds will be used to reprice an existing $913 million term loan B due Dec. 6, 2028 down from SOFR+10 bps CSA plus 350 bps with a step-up to SOFR+10 bps CSA plus 375 bps at more than 3.75x first-lien net leverage and a 0.75% floor.

Vertex is a McLean, Va.-based provider of solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian and international clients.

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