The facility will consist of USD and euro loans.
VFS Global, the Zurich and Dubai headquartered provider of outsourced visa and consular services, is looking to raise the equivalent of $2 billion in term loans to refinance an existing debt and pay fees and expenses.
The financing will be split in US dollar and euro loans. Pricing on the seven-year, dollar-denominated term loan B is indicated at 300 basis points (bps) over the Secured Overnight Financing Rate (SOFR). The euro-denominated loan is indicated at 325 bps over Euribor.
The book runners for the facility are Barclays and Deutsche Bank. Passive book runners are Abu Dhabi Commercial Bank, Bank of America, Citi, NatWest and StanChart.
VFS Global is majority owned through investment funds managed by Blackstone Inc, along with minority stakeholders including Swiss-based Kuoni and Hugentobler Foundation.
The redirection of Chinese exports away from the US has fuelled concerns about its spillovers…
The European Commission is simplifying the rules around the EU energy label. This column uses…
Service value chains are expanding faster than industrial ones, yet their geography is strikingly different:…
How households’ inflation expectations affect their spending is a central question for researchers and policymakers…
An anticipatory framework for the European Union to manage climate risks should lead to better…
Military planners need to work more closely with economists to better understand resource management and…