TeleGuam seeks $174 million credit facility led by BNP Paribas

By Sara Rosenberg

New York, May 6 - GTA TeleGuam is in market with a $174 million credit facility, according to a market source.

BNP Paribas Securities Corp. is the lead bank on the deal that launched with a bank meeting last Thursday.

The facility consists of a $10 million five-year revolver, a $122 million six-year term loan B and a $42 million seven-year second-lien term loan, the source said.

Price talk on the first-lien term loan is Libor plus 375 basis points to 400 bps with a 1.25% Libor floor and an original issue discount of 991/2, and talk on the second-lien term loan is Libor plus 750 bps to 775 bps with a 1.25% Libor floor and a discount of 99, the source said.

Included in the first-lien loan is 101 soft call protection for six months, and the second-lien loan has call protection of 102 in year one and 101 in year two.

Commitments are due on May 16, the source added.

Proceeds will be used to refinance existing debt and fund a dividend.

GTA TeleGuam is a Tamuning, Guam-based provider of communications services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.