Lumos Networks reveals talk on $550 million credit facilities

By Sara Rosenberg

New York, Oct. 17 – Lumos Networks Corp. (MTN Infrastructure TopCo Inc.) released price talk on its $550 million of senior secured credit facilities (B2) in connection with its lenders’ presentation on Tuesday, according to a market source.

The $65 million five-year revolver is talked at Libor plus 325 basis points with a 0% Libor floor and the $485 million seven-year covenant-light first-lien term loan B is talked at Libor plus 350 bps to 375 bps with a 1% Libor floor and an original issue discount of 99.5, the source said.

Included in the term loan is 101 soft call protection for six months and amortization of 1% per annum.

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

Commitments are due on Oct. 27, the source added.

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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