Barclays and Royal Bank of Canada Commit to Provide $1.495 Billion Financing for Victory Capital Holdings

November 13, 2018

New York - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Barclays Bank PLC and RBC Capital Markets, as joint lead arrangers and joint bookrunners, and Barclays Bank PLC, as administrative agent, with respect to $1,495,000,000 in senior secured credit facilities to be provided in connection with the proposed acquisition of USAA Transfer Agency Company, a Delaware corporation d/b/a USAA Shareholder Account Services, and USAA Asset Management Company, a Delaware corporation, by Victory Capital Holdings, Inc. and separately, the proposed acquisition of Harvest Volatility Management, LLC, a Delaware limited liability company, by Victory Capital Holdings, Inc.

Finance partners John Cobb and Michael Baker led the Paul Hastings team, which also included of counsels Sung Ho Choi and Seth Chandler; and associates Katherine Forer, Victoria Kahn, Stephanie Hong and Victoria Luttman.

The Paul Hastings Leveraged Finance team has advised on the financings for several high-profile deals, including the £1 billion acquisition of Laird PLC by Advent International; the $3.55 billion financing in connection with Meredith Corporation’s acquisition of Time Inc.; two credit facilities of nearly $4 billion combined for PBF Energy; the $650 million financing and concurrent tender offer for Calfrac Holdings LP; two credit facilities of $250,000,000 combined in connection with the voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code by Mattress Firm, Inc.; the $1.25 billion financing for Dynegy Inc.; and the $9.45 billion acquisition of Energy Future Holdings by Sempra Energy.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.