V. Group talks $90 million add-on first-lien term loan at 99-99.5 OID

By Sara Rosenberg

New York, July 16 – V. Group launched on Thursday its fungible $90 million add-on first-lien term loan with original issue discount talk of 99 to 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 400 basis points with a 1% Libor floor, in line with the existing first-lien term loan.

Goldman Sachs Bank USA is the lead on the deal.

Proceeds will be used to help repay the company’s second-lien term loan.

Commitments are due on July 22.

V. Group is a supplier of a broad range of specialist outsourcing services to asset owners and operators in the shipping, offshore, leisure and defense sectors.

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