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Zayo Group cuts spread on $400 million term B-2 to Libor plus 350 bps
By Sara Rosenberg
New York, Jan. 12 – Zayo Group LLC lowered pricing on its $400 million covenant-light term loan B-2 (Ba2) due May 6, 2021 to Libor plus 350 basis points from Libor plus 375 bps, according to a market source.
As before, the term loan B-2 has a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.
Recommitments were due at 2:30 p.m. ET, the source said.
Morgan Stanley Senior Funding Inc. is the bookrunner on the deal.
Proceeds will be used to fund previously announced acquisitions.
Zayo is a Boulder, Colo.-based provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services.
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