Zayo firms $275 million incremental term B at discount of 99½

By Sara Rosenberg

New York, May 16 - Zayo Group LLC finalized the original issue discount on its fungible $275 million incremental term loan B due July 2, 2019 at 991/2, the tight end of the 99¼ to 99½ talk, 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.

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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