OVG gets $300 million first-lien term loan at Libor plus 625 bps

By Sara Rosenberg

New York, Nov. 23 – OVG closed on a $300 million seven-year first-lien term loan priced at Libor plus 625 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

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

KKR Capital Markets, Jefferies LLC and Golub Capital led the deal.

Proceeds were used to help fund the acquisition of Spectra, a Philadelphia-based venue management and hospitality provider.

Oak View Group is a Los Angeles-based venue development, advisory and investment company for the sports and live entertainment industries.

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