WideOpenWest launching $2.15 billion in term loan debt to investors

By Sara Rosenberg

New York, Feb. 1 – WideOpenWest Finance LLC was scheduled to hold a lender call at 3 p.m. ET on Wednesday to launch a repricing of its $2.06 billion first-lien term loan due August 2023 and a $90 million incremental first-lien term loan due August 2023, according to a market source.

Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc. and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

Price talk on the term loan debt is Libor plus 300 basis points with no Libor floor and a par issue price, the source said.

The term debt has 101 soft call protection for six months and a maximum senior secured leverage ratio.

Expected term loan ratings are B1/B.

The repricing will take the existing term loan down from Libor plus 350 bps with a 1% Libor floor.

Commitments are due at 5 p.m. ET on Feb. 8, the source added.

WideOpenWest is a Denver-based provider of data, video and telephone services.

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