Harron Communications launches $465 million credit facility

By Sara Rosenberg

New York, June 5 - Harron Communications LP held a call on Wednesday morning to launch a $465 million credit facility, according to a market source.

SunTrust Robinson Humphrey Inc. is the lead bank on the deal.

The facility consists of a $60 million revolver, a $180 million term loan A and a $225 million term loan B, the source said.

Price talk on the revolver and term loan A is Libor plus 250 basis points, and talk on the B loan is Libor plus 275 bps with a 0.75% Libor floor and a par offer price, the source continued.

The term loan B has 101 soft call protection for six months.

Commitments are due on June 12.

Proceeds will be used to refinance existing debt.

Senior leverage is 3.4 times and total leverage is 5.9 times, the source added.

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

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