WaveDivison guides $470 million term loan B in low-6% area yield

By Sara Rosenberg

New York, July 24 - WaveDivision Holdings LLC is talking its $470 million term loan B with an all-in yield (including coupon, floor and discount) in the low-6% area, according to a market source.

The term loan B, as well as a $50 million revolver, will launch with a bank meeting on Thursday.

Wells Fargo Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets LLC are the lead banks on the $520 million credit facility (Ba3).

Proceeds will be used to help fund the acquisition of the company by Oak Hill Capital Partners, GI Partners and management from Sandler Capital Management.

The transaction is expected to close in the fourth quarter, subject to regulatory approvals and customary conditions.

WaveDivision is a Kirkland, Wash.-based owner and operator of broadband cable systems.

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