Communications Sales sets $2.1 billion term B at Libor plus 300 bps

By Sara Rosenberg

New York, Feb. 3 – Communications Sales & Leasing Inc. firmed pricing on its $2.1 billion term loan B due October 2022 at Libor plus 300 basis points, the high end of the Libor plus 275 bps to 300 bps talk, according to an informed source.

As before, the term loan has a 1% Libor floor, a par issue price and 101 soft call protection through October 2017.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 350 bps with a 1% Libor floor.

Communications Sales & Leasing is a Little Rock, Ark.-based real estate investment trust engaged in the acquisition and construction of mission critical communications infrastructure.

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