WaveDivision tightens OID on $125 million add-on term loan to 99.875

By Sara Rosenberg

New York, Aug. 10 – WaveDivision Holdings LLC revised the original issue discount on its fungible $125 million add-on first-lien term loan (Ba3) to 99.875 from talk of 99.5 to 99.75, according to a market source.

As before, pricing on the add-on term loan is Libor plus 300 basis points with a 1% Libor floor, and the first-lien term loan debt will get 101 soft call protection for six months.

Jefferies Finance LLC is the sole lead on the deal.

Commitments were due at 4 p.m. ET on Wednesday, the source said.

Proceeds will be used for general corporate purposes.

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

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