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Published on 10/12/2021 in the Prospect News Bank Loan Daily.

Astound Broadband to launch $500 million term loan on Wednesday

By Sara Rosenberg

New York, Oct. 12 – Astound Broadband (Radiate HoldCo LLC) is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch a fungible $500 million add-on term loan B (B1) due 2026, according to a market source.

JPMorgan Chase Bank and Credit Suisse Securities (USA) LLC are the leads on the deal.

Pricing on the add-on term loan is Libor plus 350 basis points with a 0.75% Libor floor.

The add-on term loan is talked with an original issue discount of 99.05 to 99.5, the source said.

Commitments are due at 5 p.m. ET on Oct. 20.

Proceeds will be used to help fund the acquisition of the Chicago, Evansville, Ind., and Anne Arundel, Md., assets of WOW! Internet, Cable & Phone for $661 million.

Astound Broadband is a Princeton, N.J.-based cable operator.


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