Zayo to launch $275 million incremental term loan B on Tuesday

By Sara Rosenberg

New York, May 12 - Zayo Group LLC is scheduled to hold a call at 2:30 p.m. ET on Tuesday to launch a fungible $275 million incremental term loan B due July 2, 2019, according to a market source.

Barclays, RBC Capital Markets and Morgan Stanley Senior Funding Inc. are the bookrunners on the deal.

The company's existing roughly $1.74 billion term loan B is priced at Libor plus 300 basis points with a 1% Libor floor and has 101 soft call protection that expires on May 26.

Proceeds will be used for general corporate purposes.

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

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