ATX seeks $146 million credit facility at Libor plus 475-500 bps

By Sara Rosenberg

New York, May 28 – ATX Networks is in market with a $146 million credit facility that is talked at Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The facility includes a $20 million five-year revolver and a $126 million 6.5-year term loan B, the source said.

The term loan has 101 soft call protection for six months.

BNP Paribas Securities Corp. is the lead on the deal that launched with a bank meeting on Wednesday.

Commitments are due on June 10.

Proceeds will be used to help fund the buyout of the company by HIG Capital from Pamlico Capital.

Other funds for the transaction will come from $49 million of mezzanine debt and $5 million of holdco PIK notes, the source added.

ATX Networks is an Ajax, Ont.-based designer and manufacturer of equipment for cable operators.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.