Alaska Communications talks $440 million term B at Libor plus 400 bps

By Sara Rosenberg

New York, Oct. 4 - Alaska Communications Systems Group Inc. launched its $440 million six-year term loan B on Monday with price talk of Libor plus 400 basis points with a 1.5% Libor floor and an original issue discount of 99, according to a market source.

The company's $470 million senior secured credit facility (BB-) also includes a $30 million revolver.

JPMorgan is the lead bank on the deal.

Proceeds will be used to refinance and extend the maturity of the company's existing $426 million term loans due Feb. 1, 2012 and $45 million revolver due Feb. 1, 2011.

Alaska Communications is an Anchorage-based provider of broadband and other wireline and wireless services across businesses and consumers.

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