WideOpenWest launches $730 million term loan B at SOFR plus 300 bps

By Sara Rosenberg

New York, Dec. 1 – WideOpenWest Finance LLC (WOW!) launched on Wednesday its $730 million covenant-lite first-lien term loan B due December 2028 (B1) with price talk of SOFR plus 300 basis points with a 0.5% floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc., KeyBanc Capital Markets, BofA Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Regions Bank, Wells Fargo Securities LLC and M&T Bank are the joint lead arrangers and bookrunners on the deal. Morgan Stanley is the administrative agent.

Commitments are due at noon ET on Dec. 8, the source added.

Proceeds will be used to refinance an existing term loan B and pay related fees and expenses.

WideOpenWest is an Englewood, Colo.-based broadband services provider.

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