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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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