Viad lifts spread on $400 million term loan B to Libor plus 500 bps

By Sara Rosenberg

New York, July 26 – Viad Corp. increased pricing on its $400 million term loan B (B3/B+) to Libor plus 500 basis points from Libor plus 450 bps, according to a market source.

Also, the original issue discount on the term loan widened to 98 from 99, the source said.

The term loan still has a 0.5% Libor floor and 101 soft call protection for six months.

BofA Securities Inc., BMO Capital Markets, KeyBanc Capital Markets and Truist are the leads on the deal.

Recommitments are due at 12:30 p.m. ET on Tuesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings and for general corporate purposes.

Viad is a Phoenix-based provider of experiential leisure travel and live events and marketing experiences.

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