Midcontinent Communications launches $100 million add-on, repricing

By Sara Rosenberg

New York, July 11 – Midcontinent Communications held a lender call on Tuesday to launch a $100 million add-on term loan B and a repricing of its existing term loan B, according to a market source.

SunTrust Robinson Humphrey Inc. is the lead bank on the deal.

Price talk on the term loan B debt is Libor plus 225 basis points with no Libor floor and a par issue price, the source said.

The add-on will be used to refinance some notes, and the repricing will take the term loan B down from Libor plus 250 bps with no floor.

Commitments are due on July 18, the source added.

Midcontinent Communications is a Sioux Falls, S.D.-based provider of cable television, local and long-distance digital telephone service and high-speed internet access.

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