Hawaiian Telcom $330 million credit facility led by Credit Suisse

By Sara Rosenberg

New York, June 10 - Hawaiian Telcom Holdco Inc.'s proposed $330 million credit facility is being done via lead arranger Credit Suisse Securities (USA) LLC, according to an informed source.

Timing for the bank meeting is not yet available since the company needs approval from the Hawaii Public Utilities Commission for the transaction.

The facility consists of a $300 million six-year term loan and $30 million three-or four-year revolver.

The company said in the filing with the Hawaii Public Utilities Commission that it is projecting pricing of Libor plus 475 basis points with a 1.25% Libor floor on the term loan and Libor plus 400 bps with a 1.25% Libor floor on the revolver.

Proceeds will be used to refinance an existing $300 million term loan due Oct. 28, 2015 that is priced at Libor plus 600 bps with a 3% Libor floor and a $30 million revolver that is priced at Libor plus 400 bps with a 1.5% floor.

Hawaiian Telcom is a Honolulu, Hawaii-based provider of integrated communications services.

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