VSP Optical Group, Inc. $1.45 Billion Senior Unsecured Credit Facilities

October 17, 2019

On October 1, 2019, KeyBanc Capital Markets Inc. (“KBCM”) successfully closed the syndication of $1,450 million of Senior Unsecured Credit Facilities for VSP Optical Group, Inc., a subsidiary of Vision Service Plan (“VSP” or the “Company”). The Credit Facilities are comprised of a $250 million Revolving Credit Facility and a $1,200 million Term Loan A.  Proceeds from the Credit Facilities were used to finance the Company’s acquisition of Visionworks, fund working capital needs, and general corporate purposes. KBCM served as Left Lead Arranger, Joint Bookrunner and Administrative Agent on the Credit Facilities. This financing represents VSP’s debut syndicated loan transaction and KBCM’s first transaction with VSP. KBCM was selected as Left Lead Arranger due to its extensive industry knowledge and robust debt capital markets platform.

Vision Service Plan and its subsidiaries, known collectively as VSP Global, help people see by providing access to affordable, high-quality vision care and eyewear. VSP operates 5 business segments that when combined, encompass all major facets of today’s vision-care marketplace including: vision-care insurance, eyewear, lenses, ophthalmic technology, EHR, practice management software and retail offerings. The Company covers 89+ million members worldwide through its network of 38,000+ doctors.

Visionworks is a leading national provider of retail vision care services in the United States with over 700 retail stores in 40 states and the District of Columbia. Visionworks services approximately 3.5 million customers per year, conducting over 8,000 exams per day.

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