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Mega Broadband finalizes $155 million term loan at 99.5 OID
By Sara Rosenberg
New York, Dec. 13 – Mega Broadband Investments LLC firmed the original issue discount on its fungible $155 million incremental term loan B (B+) at 99.5, the tight end of the 99.25 to 99.5 talk, according to a market source.
Pricing on the incremental term loan is Libor plus 300 basis points with a 0.75% Libor floor, which matches existing term loan pricing.
Truist Securities Inc. is the left lead on the deal.
Proceeds will be used to fund a distribution to shareholders and pay down revolving credit facility borrowings.
Mega Broadband is a broadband provider.
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