New Look Vision getting $150 million of incremental term loans

By Sara Rosenberg

New York, Dec. 20 – New Look Vision Group is obtaining $150 million of incremental term loans, according to a market source.

The debt consists of a fungible $100 million incremental term loan and a $50 million incremental delayed-draw term loan, the source said.

Pricing on the term loan debt is Libor plus 550 basis points with a 1% Libor floor.

Original issue discount on the incremental term loans is not being disclosed at this time, the source added.

Golub Capital is the left lead arranger and administrative agent on the deal.

Pro forma for the add-on, the facilities total about C$919 million, comprised of both U.S. and Canadian tranches.

Proceeds are being used to fund the acquisition of Luxury Optical Holdings, a New York-based luxury optical retailer, from Monroe Capital.

New Look Vision, backed by FFL Partners and Caisse de depot et placement du Quebec, is a Quebec-based optical retail platform.

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