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Lightower to launch $1.1 billion first-lien term loan on Monday
By Sara Rosenberg
New York, Jan. 10 - Lightower Fiber Networks set a call for Monday to launch a $1,095,000,000 first-lien term loan due April 2020 that is talked at Libor plus 325 basis points with a 0.75% Libor floor, according to a market source.
J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. and SunTrust Robinson Humphrey are the lead banks on the deal.
Proceeds will be used to reprice an existing first-lien term loan from Libor plus 350 bps with a 1% Libor floor.
Lightower is a Boxborough, Mass.-based metro fiber and bandwidth provider.
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