Visual Comfort changes $275 million term loan OID to 99.75

By Sara Rosenberg

New York, April 8 – Visual Comfort revised the original issue discount talk on its fungible $275 million first-lien term loan B due July 2028 to a range of 99.5 to 99.75 from 99.04 and then finalized the discount at 99.75 following a 2:30 p.m. ET recommitment deadline, according to a market source.

Pricing on the term loan B is SOFR plus 350 basis points, stepping up from SOFR plus 300 bps, with a 0.5% floor.

The term loan B is getting 101 soft call protection for six months and has amortization of 1% per annum.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Proceeds will be used to refinance an existing second-lien term loan.

Visual Comfort is a Houston-based provider of decorative and functional lighting products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.