Zayo revises $205 million incremental term loan issue price to par

By Sara Rosenberg

New York, Feb. 18 – Zayo Group Holdings Inc. tightened the issue price on its fungible $205 million incremental covenant-lite first-lien term loan (B1/B) due March 2027 to par from 99.75, according to a market source.

Pricing on the incremental term loan is Libor plus 300 basis points with a 0% Libor floor, in line with existing term loan pricing.

Credit Suisse Securities (USA) LLC and Morgan Stanley Senior Funding Inc. are the arrangers on the deal.

Commitments were scheduled to be due at 2:30 p.m. ET on Thursday, accelerated from 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance unsecured notes.

Zayo is a Boulder, Colo.-based provider of mission-critical bandwidth to companies.

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