Hawaiian Telcom to launch $320 million term loan B on Thursday

By Sara Rosenberg

New York, Nov. 9 – Hawaiian Telcom is scheduled to hold a bank meeting at 10:30 a.m. ET in New York on Thursday to launch a $320 million seven-year term loan B, according to a market source.

UBS AG is the bookrunner on the deal.

The term loan B is talked with a 1% Libor floor, the source said. Spread and original issue discount are not yet available.

Covenants include a maximum leverage ratio.

Proceeds will be used to refinance existing credit facilities and to add cash to the balance sheet.

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

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