Victory Capital Holdings, Inc. Enters into the First Amendment to the Credit Agreement
January 21, 2020 at 07:02 am
Share
On January 17, 2020, Victory Capital Holdings, Inc. entered into the First Amendment to the Credit Agreement (the First Amendment") dated as of July 1, 2019 with the other loan parties thereto, Barclays Bank PLC, as administrative agent, the Royal Bank of Canada as fronting bank, and the lenders party thereto which amends the Credit Agreement dated as of July 1, 2019 (the Existing Credit Agreement") among the Company, the lenders from time to time party thereto and Barclays Bank PLC, as administrative agent and collateral agent. Pursuant to the First Amendment, the Company refinanced the existing term loans (the Existing Term Loans") with replacement term loans in an aggregate principal amount of $951,999,999.50 (the Repriced Term Loans"). The Repriced Term Loans provide for substantially the same terms as the Existing Term Loans, including the same maturity date of June 2026, except that the Repriced Term Loans provide for a reduced applicable margin on LIBOR of 75 basis points. The applicable margin on LIBOR under the Repriced Term Loans is 2.50%, compared to 3.25% under the Existing Term Loans.
Victory Capital Holdings, Inc. is a diversified global asset management firm. The Company provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 11 autonomous investment franchises and a solutions platform, the Company offers an array of investment products, including actively and passively managed mutual funds, rules-based and active exchange traded funds (ETFs), institutional separate accounts, variable insurance products (VIPs), alternative investments, private closed end funds, and a 529 Education Savings Plan. Its strategies are also offered through third-party investment products, including mutual funds, third-party ETF model strategies, retail separately managed accounts and unified managed accounts. Its franchises and our solutions platform collectively manage a diversified set of 118 investment strategies. The Company's investment adviser is Victory Capital Management Inc.