Intertrust uses $150 million term loan, revolver draw for Viteos buy

By Wendy Van Sickle

Columbus, Ohio, June 18 – Intertrust NV used proceeds of a new $150 million term loan, as well as a draw on its revolving credit facility and cash on its balance sheet, to fund its acquisition of Viteos for an enterprise value of $330 million, according to a news release.

At closing of the acquisition, Intertrust’s leverage ratio was about 4.1x. It is expected to decrease to below 3x by 2021.

Intertrust is an Amsterdam-based provider of administrative services to clients operating and investing in the international business environment. Viteos is a provider of technology solutions for U.S. funds.

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