VFS Aims to Refinance Private Debt With $2 Billion From Banks

VFS Global, a Switzerland-based provider of outsourced visa and consular services, is seeking to raise $2 billion-equivalent in term loans to refinance existing unitranche debt.

The financing will consist of loans in dollars and euros. Pricing on the seven-year, dollar-denominated term loan B is indicated at 300 basis points over the secured overnight financing rate. The euro-denominated loan is set to earn investors a spread of 325 basis points over Euribor.