Menu
sharewise sharewise
Log in
Sign up
Log in
Sign up
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Victory Capital Announces Successful Repricing of Term Loan With Lower Rate

BusinessWire_EN 
0 0 18.02.21
Victory Capital Announces Successful Repricing of Term Loan With Lower Rate: https://mms.businesswire.com/media/20200331005113/en/460034/5/VC_Logo_2c.jpg
 

Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”) today reported that it has repriced its existing $756 million Term Loan.

The repricing lowered the interest rate spread by 25 basis points, from 2.50 percent over LIBOR, to 2.25 percent over LIBOR, while maintaining the current maturity of July 1, 2026 and a LIBOR floor of 0.00%. Since the origination of the term loan in July 2019, the interest rate spread has been reduced by a total of 100 basis points.

“We appreciate the continued support from our lenders and their confidence in Victory Capital’s strong financial condition,” said David Brown, Chairman and CEO. “Higher free cash flow generation has contributed to reducing our leverage ratio, in addition to providing more flexibility to pursue capital allocation priorities such as inorganic growth initiatives, making strategic investments in the business, and returning capital to our shareholders.”

S&P Global Ratings revised Victory Capital’s credit outlook from stable to positive on February 17, 2021.

About Victory Capital

Victory Capital is a diversified global asset management firm with $146.2 billion in assets under management as of January 31, 2021. The Company operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.

Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With nine autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment styles and investment vehicles including, actively managed mutual funds, separately managed accounts, active ETFs, multi-asset class strategies, custom-designed solutions and a 529 College Savings Plan.

For more information, please visit www.vcm.com or follow us: Twitter and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210218005958/en/

Victory Capital Holdings Inc Stock

€48.20
-1.630%
We can see a decrease in the price for Victory Capital Holdings Inc. Compared to yesterday it has lost -€0.800 (-1.630%).

Show more
Like: 0
Share
BusinessWire_EN 
Business Wire, a Berkshire Hathaway company, is the global leader in press release distribution and regulatory disclosure. Investor relations, public relations, public policy and marketing professionals rely on Business Wire for secure and accurate distribution of market-moving news and multimedia.

Legal notice

Comments

Not a member yet? Sign up for free!