Zayo sets spread on $1.62 billion term loan at Libor plus 400 bps

By Sara Rosenberg

New York, Oct. 4 - Zayo Group LLC firmed pricing on its roughly $1.62 billion term loan B at Libor plus 400 basis points, the wide end of the Libor plus 375 bps to 400 bps talk, according to a market source.

The loan due July 2, 2019 still has a 1.25% Libor floor, a par offer price and 101 soft call protection through July 2, 2013.

Proceeds are being used to reprice the existing term loan B from Libor plus 587.5 bps with a 1.25% Libor floor.

The company's $1.87 billion senior secured credit facility also includes a $250 million revolver due July 2, 2017.

Morgan Stanley Senior Funding Inc. and Barclays are the lead banks on the deal.

Zayo is a Louisville, Colo.-based provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.