V2X to Generate Interest Expense Savings Through Successful Term Loan Repricing
V2X successfully repriced its approximately $869 million First Lien Term Loan, lowering the interest margin to SOFR plus 2.0%. The deal also eliminated the SOFR floor, reducing it from 0.75% to 0.00%, and includes a provision for an additional 25-basis-point margin reduction if the company achieves specific investment-grade-adjacent credit ratings from Moody's and S&P.
Key figures
- Sofr floor
- 0.00%
- Interest margin
- 2.0%
- Term loan amount
- 869000000
- Potential margin reduction
- 25 basis points
AI analysis
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