S&P gives B to Veeam loan

S&P said it assigned B issue-level and 2 recovery ratings (rounded estimate: 50%) to VS Holding I Inc.’s (Veeam Software Holding Ltd.) planned seven-year $1.96 billion term loan. The company also plans to upsize its revolver to $250 million and extend it to 2029.

Veeam plans to refinance its $1.203 billion term loan B and $746 million seller note with the new loan.

The outlook is stable.

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