Latisys seeks $110 million credit facility via RBC, TD and Madison

By Sara Rosenberg

New York, Aug. 3 - Latisys is seeking a $110 million credit facility via lead banks RBC, TD Bank and Madison Capital, according to a market source.

The deal is "very nicely oversubscribed" since launching with a bank meeting back in July, the source said.

The facility consists of a $20 million revolver, a $65 million term loan and a $25 million delayed-draw term loan, with all tranches talked at Libor plus 500 basis points with a 2% floor, the source said.

All tranches were also offered with an upfront fee of 98½ to 99 depending on commitment size.

Proceeds will be used for expansion capital expenditures and general corporate purposes.

Latisys is a provider of colocation, managed hosting, managed services and disaster recovery services.

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