Windstream talks roughly $699 million term B-6 at Libor plus 425 bps

By Sara Rosenberg

New York, Sept. 12 – Windstream Services LLC launched on Monday its roughly $699 million term loan B-6 with price talk of Libor plus 425 basis points with a 0.75% Libor floor and an original issue discount of 99.75, according to a market source.

The loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance an existing term loan B-6, to pay down 7 7/8% notes due 2017 and for other general corporate purposes.

Windstream is a Little Rock, Ark.-based provider of network communications and technology solutions.

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