Zayo to price $800 million 10-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., Jan. 12 – Zayo Group, LLC and Zayo Capital, Inc. plan to price an $800 million offering of 10-year senior notes (B3/B) in a quick-to-market Thursday transaction, trailing a mid-morning conference call with investors, according to a market sources.

Early guidance has the deal coming with a yield in the high 5% range, a trader said.

Morgan Stanley & Co. LLC, Barclays, SunTrust Robinson Humphrey Inc., RBC Capital Markets LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes come with five years of call protection.

The Boulder, Colo.-based provider of communications infrastructure services plans to use the proceeds to help fund its acquisition of Electric Lightwave, formerly known as Integra Telecom, a Vancouver, Wash.-based provider of infrastructure and telecom services.

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