Ziply to use proceeds from $300 million of unsecured debt as part of term loan refinancing

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Feb. 1 – Ziply Fiber is expected to issue $300 million of new unsecured debt as part of an effort to refinance its existing term loan B due 2027, according to a market source.

The refinancing also includes a new $500 million term loan set to kick off on a Tuesday lender call via Goldman Sachs Bank USA and BofA Securities Inc. Loan commitments are due Feb. 8.

The company is a Kirkland, Wash.-based provider of communications services over a combined fiber and copper-based network in the U.S. Pacific Northwest.

Ziply began operations last May after bankrupt Frontier Communications sold its operations and assets to WaveDivision Capital in partnership with Searchlight Capital Partners.

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