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WideOpenWest to launch $1.3 billion credit facility on May 31
New York, May 24 - WideOpenWest Holdings LLC will launch a $1.3 billion credit facility on May 31.
The bank debt includes a $925 million seven-year term loan B (B2/B-), a $285 million eight-year second-lien term loan (Caa2/CCC) and a $100 million six-year revolver (B2/B-), according to a syndicate release. The revolver and term loan are talked at Libor plus 250 basis points while the second-lien tranche is talked at Libor plus 525 bps.
Credit Suisse and Deutsche Bank are joint leads.
Proceeds will be used for a recapitalization.
WideOpenWest is an Englewood, Colo., provider of cable television, high-speed internet and telephone services.
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