Zayo Group to pay down some term loan debt with notes proceeds

By Sara Rosenberg

New York, May 1 – Zayo Group LLC plans to repay about $345 million of its term loan borrowings with proceeds from a $350 million senior notes offering, according to a news release.

Any excess net proceeds from the notes will be used for general corporate purposes, which may include repayment of other debt, acquisitions, working capital and capital expenditures, a source added.

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

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