Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Sidera Networks Inc. > News item |
Sidera Networks to launch $375 million credit facility on Tuesday
By Sara Rosenberg
New York, Nov. 8 - Sidera Networks Inc. is scheduled to hold a bank meeting at 10:30 a.m. ET on Tuesday to launch a proposed $375 million credit facility, according to a market source.
SunTrust Robinson Humphrey Inc. is the lead bank on the deal.
The facility consists of a $50 million five-year revolver and a $325 million six-year term loan B.
The term loan B is talked at Libor plus 400 basis points to 425 bps with a 1.25% Libor floor and an original issue discount of 991/2, and has 101 soft call protection for one year, the source said.
Covenants include leverage and fixed charge coverage ratios.
Proceeds will be used to refinance an existing credit facility.
Commitments are due on Nov. 28, the source added.
Sidera is a New York-based provider of dark fiber, colocation and advanced network services.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.