Victory Capital launches $540 million term B at Libor plus 550-600 bps

By Sara Rosenberg

New York, July 20 – Victory Capital Operating LLC launched on Thursday a $540 million term loan B (B2/BB-) due Oct. 31, 2021 with price talk of Libor plus 550 basis points to 600 bps with a 1% Libor floor and a par issue price, according to a market source.

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

RBC Capital Markets is the lead on the deal.

Proceeds will be used to reprice an existing term loan B from Libor plus 750 bps with a 1% Libor floor.

Commitments are due on July 28, the source added.

Victory Capital is a Brooklyn, Ohio-based asset management firm.

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