Vistage Worldwide allocates $445 million first-lien term loan

By Sara Rosenberg

New York, July 1 – Vistage Worldwide allocated on Friday its $445 million first-lien term loan (B1/B), according to a market source.

Pricing on the first-lien term loan finalized at initial talk at SOFR+CSA plus 525 basis points with a 0.75% floor and an original issue discount of 97.25. CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The first-lien term loan has 101 soft call protection for six months.

The company’s $630 million of credit facilities also include a $50 million revolver and a $135 million privately placed second-lien term loan.

Golub Capital, Macquarie Capital (USA) Inc., Truist and Capital One are the joint lead arrangers on the deal.

Proceeds will be used to help fund the buyout of the company by Gridiron Capital from Providence Equity.

Closing is expected this month, subject to customary conditions.

Vistage is a San Diego-based member-based advisory company for executives of small- and medium-sized businesses.

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