Visual Comfort launches $595 million term loan at Libor plus 325 bps

By Sara Rosenberg

New York, May 16 – Visual Comfort Group Inc. (VC GB Holdings Inc.) launched on Wednesday its $595 million seven-year covenant-light first-lien term loan (B2/B) with price talk of Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Proceeds will be used to refinance existing first- and second-lien term loans.

Commitments are due at noon ET on May 23.

Visual Comfort is a Skokie, Ill., decorative lighting company.

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