Victory Capital Announces Successful Repricing of Term Loan With Lower Rate
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”) today reported that it has repriced its existing
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
“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
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.
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