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Viad firms $321 million term loan B pricing at SOFR plus 425 bps; allocations Wednesday
By Paul A. Harris
Portland, Ore., April 23 – Viad Corp. finalized pricing on its $321 million term loan B due July 31, 2028 at SOFR plus 425 basis points, according to a market source.
The deal is set to allocate on Wednesday.
The final spread comes at the tight end of the 425 bps to 450 bps spread talk.
The par price talk remains unchanged.
The deal features a 0.5% floor, 101 soft call protection for six months and no CSA.
BofA Securities Inc. is the left lead arranger on the deal.
Proceeds will be used to reprice an existing $321 million term loan B due July 31, 2028 down from SOFR+CSA plus 500 bps with a 0.5% floor. Current CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.
Viad is a Scottsdale, Ariz.-based provider of experiential leisure travel and live events and marketing experiences.
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