Verra Mobility firms $705 million term loan at SOFR plus 275 bps

By Sara Rosenberg

New York, Feb. 5 – Verra Mobility Corp. (VM Consolidated Inc.) finalized pricing on its roughly $705 million first-lien term loan due March 26, 2028 at SOFR plus 275 basis points, the low end of the SOFR plus 275 bps to 300 bps talk, according to a market source.

The term loan has no CSA, a 0% floor, a par issue price and 101 soft call protection for six months.

BofA Securities Inc. is the lead on the deal.

Allocations went out on Friday, 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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