WaveDivision to sell $250 million notes in acquisition financing

By Paul A. Harris

Portland, Ore., July 26 - WaveDivision Holdings LLC is expected to bring a $250 million offering of high-yield notes (Caa1) to market in late July or early August, market sources say.

Deutsche Bank Securities Inc., Wells Fargo Securities LLC, RBC Capital Markets and SunTrust Robinson Humphrey will lead the deal.

A $470 million term loan was launched at a bank meeting on Thursday.

Proceeds from the bonds and the term loan, in addition to a $50 million revolver, will be used to help fund the acquisition of the company by Oak Hill Capital Partners, GI Partners and management from Sandler Capital Management.

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

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