Consolidated Communications talks $910 million term B at Libor plus 350 bps

By Sara Rosenberg

New York, Dec. 3 - Consolidated Communications Holdings Inc. launched on Tuesday its $910 million seven-year term loan B with price talk of Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

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

The company's $985 million credit facility also includes a $75 million five-year revolver.

Commitments are due on Dec. 12, the source added.

Wells Fargo Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

Consolidated Communications is a Mattoon, Ill.-based rural local exchange company providing voice, data and video services.

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