Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Northwest Fiber LLC > News item |
Ziply Fiber launches $300 million offering of seven-year notes at 6%; pricing Tuesday
By Paul A. Harris
Portland, Ore., Feb. 9 – Ziply Fiber set the final price on its $300 million offering of senior notes due February 2028 (Caa1/CCC+) at 6%, according to a syndicate source.
Price talk was in the 6¼% area.
The Rule 144A and Regulation S for life deal is set to price later on Tuesday morning.
Goldman Sachs & Co. LLC is the left bookrunner. Credit Suisse Securities (USA) LLC, BofA Securities Inc. and Deutsche Bank Securities Inc. are the joint bookrunners.
The seven-year notes become callable after three years at par plus 50% of the coupon.
The issuing entities will be Northwest Fiber, LLC, which does business as Ziply, and Northwest Fiber Finance Sub, Inc.
The Kirkland, Wash.-based telecom plans to use the proceeds plus proceeds from a new term loan to pay off its existing term loan.
Ziply began operations last May after bankrupt Frontier Communications sold its operations and assets to WaveDivision Capital in partnership with Searchlight Capital Partners.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.