Mega Broadband to launch $725 million credit facilities on Thursday

By Sara Rosenberg

New York, Oct. 6 – Mega Broadband Investments Holdings LLC is set to hold a lender call at 10 a.m. ET on Thursday to launch $725 million of senior secured credit facilities, according to a market source.

Truist Securities Inc., Credit Suisse Securities (USA) LLC, TD Securities (USA) LLC and Citizens are the joint bookrunners on the deal.

The facilities consist of a $75 million five-year revolver and a $650 million seven-year term loan B, the source said.

Proceeds will be used to refinance existing debt and fund a distribution to existing shareholders.

On Sept. 28, it was announced that Cable One Inc. will make a strategic investment in Mega Broadband. Cable One will purchase a 45% minority stake from affiliates of GTCR for about $574.1 million in cash. The investment is expected to close in the fourth quarter. Cable One expects to fund the transaction through cash on hand.

Mega Broadband is a broadband provider.

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