Vialto Partners lifts term loan to $969 million, tightens OID to 97.5

By Sara Rosenberg

New York, April 19 – Vialto Partners upsized its seven-year first-lien term loan to $969 million from $950 million and changed the original issue discount to 97.5 from talk in the range of 96 to 97, according to a market source.

Pricing on the term loan remained at SOFR plus 475 basis points with a 0.5% floor.

The term loan still has 101 soft call protection for six months.

JPMorgan Chase Bank, Deutsche Bank Securities Inc., UBS Investment Bank, BMO Capital Markets Corp., BNP Paribas Securities Corp., Mizuho Financial Group Inc., RBC Capital Markets LLC, Societe Generale, HSBC Securities (USA) Inc., ING and Santander are the leads on the deal.

Recommitments were scheduled to be due at 3 p.m. ET on Tuesday, the source added.

Proceeds will be used to help fund the buyout of the company by Clayton, Dubilier & Rice from PricewaterhouseCoopers (PwC), and the upsized amount will be used to help pay the original issue discount.

Closing is expected in the first half of this year, subject to customary conditions, including completion of certain local works council consultations.

Vialto, previously known as PwC’s Global Mobility Tax and Immigration Services business, is a provider of compliance, consulting and technology services for employers and their mobile employees.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.