Victory Capital Announces Successful Repricing of Term Loan With Lower Rate
21 Januar 2020 - 1:00PM
Business Wire
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”
or the “Company”) today reported that it has repriced its existing
$952 million Term Loan.
The repricing lowered the interest rate spread by 75 basis
points, from 3.25 percent over LIBOR, to 2.50 percent over LIBOR,
while maintaining the current maturity of July 1, 2026.
“We genuinely appreciate the support of our lenders, all of
which consented to the repricing,” said David Brown, Chairman and
CEO. “Our proven ability to increase cash flow and promptly
de-lever has heightened our financial profile. By lowering interest
expense and strengthening the balance sheet, we are enhancing
capital flexibility to support future growth initiatives.”
About Victory Capital
Victory Capital is a global investment management firm operating
a next-generation, integrated multi-boutique business model with
$151.8 billion in assets under management as of December 31,
2019.
Victory Capital provides specialized investment strategies to
institutions, intermediaries, retirement platforms and individual
investors, including USAA members through its direct member
channel. Through its Investment Franchises and Solutions Platform,
Victory Capital offers a diverse array of independent investment
approaches and innovative investment vehicles designed to drive
better investor outcomes. This includes actively managed mutual
funds and separately managed accounts, rules-based and active ETFs,
multi-asset class strategies, custom solutions and a 529 College
Savings Plan.
For more information, please visit www.vcm.com or follow us on
Twitter and LinkedIn.
USAA is a trademark of United Services Automobile Association
and is being used by Victory Capital and its affiliates under
license. Victory Capital and its affiliates are not affiliated with
USAA or its affiliates.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200121005286/en/
Investors: Matthew Dennis, CFA Chief of Staff Director,
Investor Relations 216-898-2412 mdennis@vcm.com
Media: Tricia Ross 310-622-8226 tross@finprofiles.com
Victory Capital (NASDAQ:VCTR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Victory Capital (NASDAQ:VCTR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024