Zayo launches $275 million incremental term B at OID of 99¼ to 99½

By Sara Rosenberg

New York, May 13 - Zayo Group LLC launched on Tuesday its fungible $275 million incremental term loan B due July 2, 2019 with original issue discount talk of 99¼ to 991/2, according to a market source.

Pricing on the incremental loan and on the company's existing roughly $1.74 billion term loan B is Libor plus 300 basis points with a 1% Libor floor, and there is 101 soft call protection that expires on May 26.

Commitments are due by 5 p.m. ET on Thursday, the source added.

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

Proceeds will be used to fund the acquisition of Neo Telecoms, a Paris-based bandwidth infrastructure company, and 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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