Voyage Digital talks NZ$1.35 billion equivalent seven-year term loan at SOFR plus 400-425 bps

By Paul A. Harris

Portland, Ore., Feb. 17 – Voyage Digital (NZ) Ltd. set price talk in its NZ$1.35 billion equivalent U.S. dollar and New Zealand dollar seven-year senior secured term loan B (expected ratings Ba3/B+), according to a market source.

The deal is talked with at SOFR plus 400 basis points to 425 bps atop a 0.50% SOFR floor at 99 to 99.5.

The loan comes with soft call protection at 101. It has a 1% annual rate of amortization.

There are no financial covenants.

Morgan Stanley Senior Funding Inc., Natixis, UBS, Deutsche Bank and ING are the joint bookrunners.

Global Loan Agency Servicing is the administrative agent.

Proceeds will be used to finance the acquisition of Two Degrees Group Ltd. and repay existing debt at Two Degrees and Voyage Australia Pty Ltd.

Voyage Digital, a joint venture between Macquarie Asset Management and Aware Super, is a telecommunications company.

© 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.