Victra lifts term loan B to $620 million, firms at SOFR plus 725 bps

By Sara Rosenberg

New York, March 28 – Victra (LSF9 Atlantis Holdings LLC) upsized its seven-year term loan B to $620 million from $600 million and set the spread at SOFR plus 725 basis points, the high end of the SOFR plus 700 bps to 725 bps talk, according to a market source.

Also, the original issue discount on the term loan was changed to 96 from 98 and the call protection was revised to a 101 hard call for one year from a 101 soft call for one year, the source said.

In addition, amortization was modified to 5% per annum, MFN was changed to 50 bps for life with no carve-outs, Serta/J Crew/Chewy protections were added, and certain baskets were tightened, including the incremental facilities.

The term loan still has a 0.75% floor.

Truist, UBS Investment Bank and Citizens are the joint lead arrangers on the deal.

Recommitments were scheduled to be due at 1 p.m. ET on Monday, the source added.

Proceeds will be used to fund the acquisition of Go Wireless Holdings Inc.

Victra is a Raleigh, N.C.-based retailer for wireless products and services.

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