C Spire launches $250 million term loan B-1 at Libor plus 300 bps

By Sara Rosenberg

New York, Aug. 4 – C Spire launched on Tuesday its $250 million seven-year term loan B-1 with price talk of Libor plus 300 basis points with a 0.75% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch and Moelis & Co. are the leads on the deal.

Commitments are due at noon ET on Aug. 14, the source added.

Proceeds will be used to refinance existing debt and for general corporate purposes.

C Spire is a Ridgeland, Miss.-based diversified telecommunications and technology services company.

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