WideOpenWest Finance launches $1.91 billion term loan Bs

By Sara Rosenberg

New York, March 19 - WideOpenWest Finance LLC launched a new $400 million term loan B-1 due July 2017 and a new roughly $1.51 billion term loan B due March 2019, according to market sources.

The company will be holding its fiscal year-end earnings call on Thursday, and commitments for the loans are due on Friday, sources said.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., RBC Capital Markets, SunTrust Robinson Humphrey Inc. and Bank of Tokyo-Mitsubishi are the lead banks on the deal.

The term loan B-1 is talked at Libor plus 325 basis points with a 1% Libor floor and a par offer price, and the term loan B is talked at Libor plus 375 bps with a 1% Libor floor and a par offer price, sources remarked.

Included in the B-1 loan is 101 soft call protection for six months, and the term loan B has 101 soft call protection for one year.

Proceeds will be used to refinance an existing term loan B due July 2018 that is priced at Libor plus 500 bps with a 1.25% Libor floor.

Expected ratings on the term loans are B1/B, sources added.

WideOpenWest is a Denver-based provider of residential and commercial high-speed internet, cable television and telephone services.

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