Cincinnati Bell plans $1.12 billion credit facilities for buyout

By Sara Rosenberg

New York, Feb. 4 – Cincinnati Bell Inc. has received a commitment for $1.12 billion of senior secured credit facilities to help fund its acquisition by Brookfield Infrastructure, according to a PREM14A filed with the Securities and Exchange Commission on Tuesday.

BofA Securities Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., Bank of Nova Scotia, TD Securities (USA) LLC and Wells Fargo Securities LLC provided the debt commitment.

The facilities consist of a $200 million revolver and a $920 million term loan.

Other funds for the transaction will come from equity.

Under the agreement, Cincinnati Bell is being bought for $10.50 in cash per share. The transaction is valued at about $2.6 billion, including debt.

Closing is expected by the end of the year, subject to customary conditions.

Cincinnati Bell is a Cincinnati-based provider of integrated communications solutions.

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