View details terms of $50 million five-year exit facility

By Sarah Lizee

Olympia, Wash., April 26 – View, Inc. detailed the terms of its proposed $50 million five-year exit facility in a plan supplement filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

At emergence, the facility will consist of a rolled-up $17.5 million debtor-in-possession facility and $32.5 million in new money.

Cantor Fitzgerald Securities will be the agent for the exit facility.

The exit facility will provide for the ability to add one or more incremental term loans or revolving credit facilities, or increase commitments under the existing facility, by up to $15 million.

Proceeds will be used to finance the exit from Chapter 11, refinance debt under the DIP facility, for general corporate purposes and to fees of agent, lenders and other secured parties.

The facility will bear interest at SOFR plus 750 basis points, payable monthly in cash. Interest may be paid in kind at SOFR plus 1,400 bps.

The exit facility will include a 3% closing fee and a 2% commitment fee.

There is a prepayment premium of 2% through the first anniversary of the closing date and 1%after that.

View is a smart building technologies company based in San Jose, Calif. The company filed bankruptcy on April 2 under Chapter 11 case number 24-10692.

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