Ufinet launches $1.14 billion term loan at SOFR plus 450 bps

By Sara Rosenberg

New York, Jan. 27 – Ufinet (Zacapa) launched on Thursday its $1.135 billion seven-year covenant-lite first-lien term loan with price talk of SOFR plus 450 basis points with a 0.5% floor and an original issue discount of 99 to 99.5, according to a market source.

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

Expected term loan ratings are B2/B-, the source said.

Credit Suisse Securities (USA) LLC, Barclays, UBS Investment Bank, Natixis, Bank of Nova Scotia, Santander and Credit Agricole are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Feb. 10.

Proceeds will be used to fund a majority investment in the company by the Seventh Cinven Fund for an enterprise value of about €2.5 billion.

Ufinet is a Madrid-based provider of fiber infrastructure and transmission services to telecom operators.

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