Verra Mobility launches $705 million loan at SOFR plus 275-300 bps

By Sara Rosenberg

New York, Jan. 29 – Verra Mobility Corp. (VM Consolidated Inc.) held a lender call at noon ET on Monday to launch a roughly $705 million first-lien term loan due March 26, 2028 that is talked at SOFR plus 275 basis points to 300 bps with no CSA, a 0% floor and a par issue price, according to a market source.

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

BofA Securities Inc. is the lead on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to reprice an existing term loan down from SOFR+CSA plus 325 bps with a 0% floor.

Verra is a Mesa, Ariz.-based provider of smart mobility technology solutions and services.

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