Harron firms pricing on $300 million term B at Libor plus 375 bps

By Sara Rosenberg

New York, April 1 - Harron Communications LP finalized pricing on its $300 million term loan B due 2017 at Libor plus 375 basis points, the tight end of the Libor plus 375 bps to 400 bps talk, according to a market source.

As before, the term loan B includes a 1.5% Libor floor, an original issue discount of 99½ and 101 soft call protection for one year.

The company's $600 million credit facility (B2/B) also includes a $100 million revolver due 2016 and a $200 million term loan A due 2016, with both of these tranches priced at Libor plus 300 bps with no Libor floor.

Allocations are expected to go out during the week of April 4.

SunTrust Robinson Humphrey Inc., Wells Fargo Securities LLC and Credit Agricole Securities (USA) Inc. are the lead banks on the deal.

Proceeds will be used to refinance an all pro rata bank deal and redeem about $54 million of preferred equity.

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

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