Victory Capital plans new term loan B for WestEnd Advisors purchase

By Sara Rosenberg

New York, Nov. 4 – Victory Capital Holdings Inc. plans to get an incremental term loan B to fund its acquisition of WestEnd Advisors LLC for $480 million, according to a company presentation.

BofA Securities provided the debt commitment.

The cost of the incremental term loan B debt is expected to be comparable to the current interest rate on the company’s existing term loan.

Closing is expected this year, subject to customary approvals, conditions and consents.

Victory Capital is a San Antonio, Tex.-based global asset management firm. WestEnd is a Charlotte, N.C.-based investment management firm.

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