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Consolidated Communications launches $427 million credit facility Thursday
By Sara Rosenberg
New York, March 18 - Consolidated Communications Inc. held a bank meeting on Thursday for a proposed $427 million credit facility, according to a syndicate document. Citigroup and Credit Suisse First Boston are joint lead arrangers and joint bookrunners on the deal.
Citigroup is the administrative agent, CSFB is the syndication agent and Deutsche Bank is the documentation agent.
The facility consists of a $30 million six-year revolver with an interest rate of Libor plus 250 basis points and a 50 basis points commitment fee, a $122 million six-year term loan A with an interest rate of Libor plus 250 basis points and a $275 million 71/2-year term loan B with an interest rate of Libor plus 275 basis points, according to the document.
Proceeds will be used to help fund an acquisition.
Consolidated Communications is a Mattoon, Ill., provider of voice and data communication services.
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