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Victory Capital closes IPO, enters credit agreement

Victory Capital Holdings Inc. on Feb. 12 closed its initial public offering of 11.7 million class A common shares at a price of $13.00 per share.

Victory Capital also entered into a credit agreement under which it received seven-year term loans in an aggregate principal amount of $360.0 million, and established a five-year revolving credit facility with aggregate commitments of $50.0 million.

The credit agreement will bear interest at an annual rate equal to either LIBOR plus a margin of 2.75% or an alternate base rate plus a margin of 1.75%.

Royal Bank of Canada is acting as administrative agent and collateral agent for the credit agreement.