Ziply/Northwest Fiber driving by with $275 million 5.5-year secured notes; talk low-5% area

By Paul A. Harris

Portland, Ore., Sept. 30 – Ziply Fiber plans to price a $275 million offering of 5.5-year senior secured notes (B1) in a Thursday drive-by, according to market sources.

Initial guidance has the notes coming to yield in the low-5% area.

Goldman Sachs & Co. LLC is the left bookrunner. BofA Securities Inc. and Deutsche Bank Securities Inc. are the joint bookrunners.

The notes come with two years of call protection.

The issuing entities are Northwest Fiber, LLC and Northwest Fiber Finance Sub, Inc.

The Kirkland, Wash.-based telecom plans to use the proceeds for capital expenditures and general corporate purposes.

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