Cogeco Communications to launch $900 million term loan B on Tuesday

By Sara Rosenberg

New York, Sept. 11 – Cogeco Communications Finance (USA) LP (Breezeline) will hold a lender call at 2:30 p.m. ET on Tuesday to launch a $900 million seven-year term loan B (BB), according to market sources.

BofA Securities Inc., Truist, Wells Fargo Securities LLC, RBC Capital Markets, BMO Capital Markets and CIBC are the lead arrangers on the deal.

Price talk on the term loan is SOFR plus 275 basis points to 300 bps with a 0% floor and an original issue discount of 99, sources said.

The term loan has 101 soft call protection for six months.

Commitments are due at noon ET on Friday, sources added.

Proceeds will be used with a $400 million five-year farm credit term loan to refinance an existing term loan B due 2025.

Cogeco Communications Finance, formerly known as Atlantic Broadband, is a subsidiary of Cogeco Communications Inc., a Montreal-based cable operator.

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