Lumos lifts incremental term B to $65 million, finalizes issue price

By Sara Rosenberg

New York, Feb. 14 – Lumos Networks (MTN Infrastructure TopCo Inc.) upsized its fungible incremental senior secured covenant-light term loan B due Nov. 17, 2024 to $65 million from $50 million and firmed the issue price at 100.25, the tight end of the 100 to 100.25 talk, according to a market source.

Pricing on the incremental loan is Libor plus 325 basis points with a 1% Libor floor.

The incremental loan has 101 soft call protection until May 17, 2018, which matches the call protection on the existing term loan B, and amortization of 1% per annum.

Morgan Stanley Senior Funding Inc. is the bookrunner on the deal.

Proceeds will be used for general corporate purposes, including capital expenditures to support new contract wins.

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

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