MetroNet firms $100 million incremental term B at par issue price

By Sara Rosenberg

New York, Aug. 28 – MetroNet finalized the issue price on its fungible $100 million incremental term loan B at par, the tight end of the 99.75 to par talk, according to a market source.

Pricing on the incremental term loan is Libor plus 450 basis points with a 1% Libor floor, in line with existing term loan B pricing.

TD Securities (USA) LLC, Citizens Bank, CoBank and Fifth Third are the joint lead arrangers on the deal, with TD the left lead.

Allocations went out on Friday afternoon, the source added.

Proceeds will be used for general corporate purposes.

MetroNet is an Evansville, Ind.-based provider of high-speed broadband, video and voice services over a fiber-to-the-premises network.

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