Victra launches $635M high-yield offering for refinancing and dividend

Victra Finance Corp. has launched a $635 million offering of senior secured notes, with an investor call scheduled for noon ET today. UBS (lead left) and Truist are bookrunners on the deal.

The new five-year (non-call two) notes have initial price talk in the 8% area. The bonds are expected to price later this week.

Proceeds from the new bonds will be used to refinance the firm’s existing term loan, and to pay a dividend to shareholders.

Victra is the largest Verizon Wireless authorized retailer in the U.S., and sells wireless devices including smartphones, voice phones, tablets, and related accessories.

Article updated at 8:51 a.m. ET to revise the size of the notes.