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Capital One Arranges Refinance for VerticalScope in Connection with IPO

June 25, 2021, 07:08 AM
Filed Under: Specialty Industries

VerticalScope Holdings entered into an amended and restated credit agreement amending and restating the Company's existing credit agreement with Capital One as sole lead arranger, sole bookrunner and administrative agent, and HSBC Bank Canada, National Bank of Canada and Royal Bank of Canada, as co-syndication agents.
The multi-tranche term loans under the Existing Credit Agreement were restated into a single term loan tranche with a principal amount of $50 million and the revolving loan commitments under the Existing Credit Agreement were increased to $75 million. The credit facilities have been extended and now mature on June 24, 2026. The A&R Credit Agreement contains representations and warranties, affirmative and negative covenants and events of default, and is secured on a basis, consistent in material respects with the Existing Credit Agreement.

Kirkland & Ellis LLP acted as legal counsel to VerticalScope and King & Spalding LLP acted as legal counsel to Capital One, National Association.

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