Vertex launches $260 million term loan B at SOFR plus 400 bps

By Sara Rosenberg

New York, June 8 – Vertex Aerospace Services Corp. launched on Wednesday its non-fungible $260 million incremental term loan B due Dec. 6, 2028 (B1) with price talk of SOFR+10 basis points CSA plus 400 bps with a 0.75% floor and an original issue discount of 96, according to a market source.

The incremental term loan has 101 soft call protection for six months, the source said.

RBC Capital Markets, MUFG, Stifel, US Bank and Citizens Bank are the leads on the deal.

Commitments are due at noon ET on June 22, the source added.

Proceeds will be used to support the company’s merger with Vectrus Inc.

Closing is expected in the third quarter.

Vertex is a Madison, Miss.-based defense aerospace company. Vectrus is a Colorado Springs-based military and government services company.

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