Lumos Networks to launch $550 million credit facilities on Tuesday

By Sara Rosenberg

New York, Oct. 16 – Lumos Networks Corp. is scheduled to hold a lenders’ presentation at 10:30 a.m. ET on Tuesday to launch $550 million of senior secured credit facilities, according to a market source.

Morgan Stanley Senior Funding Inc. and Goldman Sachs Bank USA are the lead banks on the deal.

The facilities consist of a $65 million revolver and a $485 million first-lien term loan B, the source said.

Proceeds will be used to help fund the buyout of the company by EQT Infrastructure for $18.00 per share, resulting in an enterprise value of about $950 million.

Lumos is a Waynesboro, Va.-based fiber-based service provider in the Mid-Atlantic region.

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