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Zayo Group to pay down term loan debt with some notes proceeds
By Sara Rosenberg
New York, March 31 – Zayo Group LLC intends to refinance term loan borrowings with the additional proceeds raised through the $200 million upsizing of its senior unsecured notes offering to $550 million from $350 million, according to a market source.
The remaining proceeds from the notes will be used to redeem 10 1/8% senior notes due 2020, to pay redemption costs, and to fund transaction-related fees and expenses.
Zayo is a Boulder, Colo.-based provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services.
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