Casa Systems firms $300 million term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, Dec. 14 – Casa Systems set pricing on its $300 million seven-year term loan B (B1/BB-) at Libor plus 400 basis points, the high end of the Libor plus 375 bps to 400 bps talk, according to a market source.

In addition, the 101 soft call protection on the term loan was extended to one year from six months, the source said.

As before, the term loan has a 1% Libor floor and an original issue discount of 99.

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

Proceeds will be used to fund a dividend.

Casa Systems is an Andover, Mass.-based provider of fixed, mobile, optical and Wi-Fi network solutions for ultra-broadband services.

© 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.