Conterra tightens $55 million incremental term loan B OID to 99.5

By Sara Rosenberg

New York, Feb. 2 – Conterra Ultra Broadband changed the original issue discount on its fungible $55 million incremental term loan B to 99.5 from 99.25, according to a market source.

Pricing on the incremental term loan remained at SOFR+CSA plus 475 basis points with a 1% floor.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The incremental term loan has 101 soft call protection until June.

TD Securities (USA) LLC is the lead on the deal.

Recommitments are due at the end of the day on Thursday, the source added.

Proceeds will be used to repay revolving credit facility borrowings, add cash to the balance sheet to fund growth and pay related fees and expenses.

With this transaction, pricing on the company’s existing term loan is being switched to SOFR+CSA plus 475 bps with a 1% floor from Libor plus 475 bps with a 1% Libor floor.

Conterra is a provider of bandwidth infrastructure services.

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