By Paul A. Harris
Portland, Ore., May 6 – Victra Finance priced an upsized $75 million add-on to the LSF9 Atlantis Holdings, LLC and Victra Finance Corp. 7¾% senior secured notes due Feb. 15, 2026 at 103 to yield 6.828% in a Thursday drive-by, according to an informed source.
The issue size increased from $50 million.
The issue price came in the middle of price talk in the 103 area.
Truist Securities Inc. was the left bookrunner. UBS Securities LLC is a joint bookrunner.
The Raleigh, N.C.-based retailer of wireless products and services plans to use the proceeds to fund distribution to its shareholders.
| Issuers: | LSF9 Atlantis Holdings, LLC and Victra Finance Corp.
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| Amount: | $75 million, increased from $50 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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| Left bookrunner: | Truist Securities Inc.
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| Joint bookrunner: | UBS Securities LLC
|
| Coupon: | 7¾%
|
| Price: | 103
|
| Yield to worst: | 6.828%
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| First call: | Feb. 15, 2023 at 103.875
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| Trade date: | May 6
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| Settlement date: | May 11
|
| Distribution: | Rule 144A and Regulation S for life
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| Price talk: | 103 area
|
| Marketing: | Drive-by
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| Original issue: | $600 million priced in February 2021
|
| Fungibility: | Add-on notes will become fungible with original notes
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