WideOpenWest to launch roughly $1.4 billion term loan B on Thursday

By Sara Rosenberg

New York, May 6 – WideOpenWest Finance LLC is scheduled to hold a lender call at 10:30 a.m. ET on Thursday to launch a $1,411,000,000 first-lien term loan B due April 1, 2019, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 325 basis points with a 1% Libor floor and a par issue price, the source said.

The term loan has 101 soft call protection for six months and a maximum senior secured net leverage covenant.

Proceeds will be used to reprice an existing term loan B due April 1, 2019 following a $118 million prepayment from Libor plus 375 bps with a 1% Libor floor.

In addition, the company is seeking to amend its credit facility to permit the refinancing of senior subordinated notes with senior unsecured notes and to make lender-friendly changes, the source added.

Commitments are due on May 14.

WideOpenWest is a Denver-based provider of data, video and telephony services.

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