By Paul A. Harris
Portland, Ore., Nov. 8 – Victra Finance Corp. priced an upsized $85 million add-on to its 7¾% senior secured notes due Feb. 15, 2026 at 99.75 to yield 7.815% in a Monday drive-by, according to an informed source.
The issue size increased from $80 million.
The issue price came at the rich end of the 99.5 to 99.75 price talk.
Truist Securities Inc. and UBS Securities LLC were the joint bookrunners.
LSF9 Atlantis Holdings, LLC was co-issuer of the notes.
The Raleigh, N.C.-based retailer of wireless products and services plans to use the proceeds to repay its term loan and for general corporate purposes.
| Issuers: | LSF9 Atlantis Holdings, LLC and Victra Finance Corp.
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| Amount: | $85 million, increased from $80 million
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| Maturity: | Feb. 15, 2026
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| Security description: | Add-on to 7¾% senior secured notes due Feb. 15, 2026
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| Bookrunners: | Truist Securities Inc. and UBS Securities LLC
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| Coupon: | 7¾%
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| Price: | 99.75
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| Yield: | 7.815%
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| First call: | Feb. 15, 2023 at 103.875
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| Trade date: | Nov. 8
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| Settlement date: | Nov. 12
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| Distribution: | Rule 144A and Regulation S for life
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| Price talk: | 99.5 to 99.75
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| Marketing: | Drive-by
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| Original issue: | $600 million priced in February 2021
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| Previous add-on: | $75 million priced in May 2021
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| Fungibility: | Add-on notes will become fungible with the existing notes
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