Visual Comfort to launch $275 million term loan on Wednesday

By Sara Rosenberg

New York, April 2 – Visual Comfort is set to hold a lender call at 10 a.m. ET on Wednesday to launch a fungible $275 million first-lien term loan B due July 2028, according to a market source.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Pricing on the term loan B is SOFR plus 350 basis points, stepping up from SOFR plus 300 bps, with a 0.5% floor, and the new debt is talked with an original issue discount of 99.04, the source said.

The term loan B is getting 101 soft call protection for six months and has amortization of 1% per annum.

Commitments are due at noon ET on April 9, the source added.

Proceeds will be used to refinance an existing second-lien term loan.

Visual Comfort is a Houston-based provider of decorative and functional lighting products.

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