V2X US$750m term loan A and revolving credit facility
Refinance part of the first lien term B loans, the second lien loans and the ABL facility from the Vectrus-Vertex merger
Key terms
- Borrower or issuer
- V2X
- Date
- 28 Feb 2023
- Type
- Bank facility
- Amount
- US$750m
- Pricing
- SOFR + 2.00-3.25% (base rate + 1.00-2.25%) depending on total net leverage
- Maturity
- 2028-02-28
Recorded terms
- Structure
- Senior secured: US$250m term loan A and US$500m revolving credit facility, borrowed by Vertex Aerospace Services Corp.
- Lenders and arrangers
- Bank of America, N.A., administrative agent, collateral agent, swingline lender and letter of credit issuer
- Country
- United States
Parties
- V2X borrower or issuer
- Lenders: Bank of America
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 10 Mar 2023 | Leidos US$2.0bn unsecured term loan and revolver (2023) | Bank facility | US$2bn |
| 29 Nov 2022 | Leonardo DRS US$500m term loan A and revolving credit facility | Bank facility | US$500m |
| 14 Jul 2023 | HEICO US$2.0bn revolving credit facility upsize (2023) | Bank facility | US$2bn |
| 12 Oct 2022 | BWX Technologies US$1.0bn secured credit facility (2022) | Bank facility | US$1bn |
| 14 Sep 2022 | Parsons US$350m delayed-draw term loan (2022) | Bank facility | US$350m |
More from V2X
| Date | Financing | Type | Amount |
|---|---|---|---|
| 29 May 2026 | V2X US$869m first lien term loan repricing (2026) | Bank facility | US$868.5m |
| 30 May 2024 | V2X US$907m first lien term loan refinancing (2024) | Bank facility | US$906.6m |
Sources
- V2X Form 8-K: credit agreement sec.gov · 2 Mar 2023
About this record
Record DEF-2023-0023, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
