secwatch / observer
8-K filed February 8, 2024, 6:59 PM ET ticker VRRM CIK 0001682745
debt confidence high sentiment positive materiality 0.65

VERRA MOBILITY Corp (VRRM): debt financing — Verra Mobility refinances $704.6M debt at lower rate; settles PlusPass litigation for $31.5M

VERRA MOBILITY Corp

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VERRA MOBILITY Corp amended term loan of $704.6 million with Bank of America, N.A. at SOFR + 2.75% maturing March 26, 2028.

Instrument
term loan
Principal
$704.6 million
Counterparty
Bank of America, N.A.
Rate
SOFR + 2.75%
Maturity
March 26, 2028
Event
amendment
Exact text from the filing
a permitted refinancing of the entire outstanding amount under the Credit Agreement and incurred new Term B-2 Loans (the “ New Term Loans ”) in the aggregate principal amount of $704.6 million. The proceeds from the New Term Loans were used in their entirety to prepay in full the then outstanding principal amount of the existing term loan under the Credit Agreement. In
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VERRA MOBILITY Corp amended Amendment No. 3 with Bank of America, N.A., as administrative agent and collateral agent valued at $704.6 million (effective 2024-02-08).

Action
amendment
Agreement
credit facility
Counterparty
Bank of America, N.A., as administrative agent and collateral agent
Value
$704.6 million
Effective
2024-02-08
Exact text from the filing
On February 8, 2024, Greenlight Acquisition Corporation (“ Holdings ”), VM Consolidated, Inc. (formerly known as ATS Consolidated, Inc.), American Traffic Solutions, Inc., and LaserCraft, Inc. (collectively, the “ Borrowers ”), as well as American Traffic Solutions Consolidated, L.L.C., ATS Processing Services, L.L.C., Auto Tag of America LLC, Auto Titles of America LLC, Highway Toll Administration, LLC, Verra Mobility Electrical Enterprises, Inc., Mulvihill ICS, Inc., PlatePass, L.L.C., Sunshine State Tag Agency LLC, Redflex Traffic Systems, Inc., T2 Systems Parent Corporation, T2 Holding Corp., T2 Systems, Inc., American Traffic Solutions, L.L.C., and Citation Collection Services LLC (collectively, the “ Subsidiary Guarantors ”), each a wholly‐owned subsidiary of Verra Mobility Corporation (the “ Company ”), entered into Amendment No. 3 (the “ Amendment ”) to the Amended and Restated First Lien Term Loan Credit Agreement dated as of March 26, 2021 (as amended, the “ Credit Agreement
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299 debt financings filed in the last 30 days. Browse all debt financings →

VERRA MOBILITY Corp filing history →

Source: SEC EDGAR
accession 0000950170-24-012765
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