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WideOpenWest launches roughly $2 billion term loan B to investors
By Sara Rosenberg
New York, Aug. 4 – WideOpenWest Finance LLC held a lender call at 10 a.m. ET on Thursday to launch a $2,065,000,000 seven-year term loan B, according to a market source.
Morgan Stanley Senior Funding Inc. and Credit Suisse Securities (USA) LLC are the lead banks on the deal.
Price talk on the term loan B is Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 99.5, the source said.
The term loan B has 101 soft call protection for six months and a senior secured leverage covenant.
Commitments are due on Aug. 11, the source added.
Proceeds will be used to refinance an existing term loan B, partially redeem the company’s 13 3/8% senior subordinated notes due 2019 and fund the acquisition of NuLink.
WideOpenWest is a Denver-based provider of data, video and telephone services. NuLink is a Newnan, Ga.-based provider of high-speed Internet, digital cable TV and phone services.
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