Harron Communications to launch $600 million facility on Tuesday

By Sara Rosenberg

New York, March 9 - Harron Communications LP is planning a bank meeting on Tuesday to launch a proposed $600 million credit facility, according to a market source.

SunTrust Robinson Humphrey, Wells Fargo and Credit Agricole are the lead banks on the deal.

The facility consists of a $100 million revolver, a $200 million term loan A and a $300 million term loan B, the source said.

Price talk on the term loan B is Libor plus 325 basis points with a 1.25% Libor floor and an original issue discount of 991/2, the source continued.

The term loan B includes 101 soft call protection for one year.

Proceeds will be used to refinance existing debt.

Harron is a Frazer, Pa.-based provider of digital television, high speed internet, digital phone and business services.

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