Consolidated Communications seeks credit facility amend and extend

By Sara Rosenberg

New York, May 25 - Consolidated Communications Holdings Inc. is out to lenders with a credit facility amendment and extension proposal, according to a market source.

Specifically, the company is looking to extend its revolver by 2½ years to 2016 at pricing of Libor plus 300 basis points versus non-extended pricing of Libor plus 250 bps, the source said.

Additionally, the term loan B would be extended by three years to 2017 at pricing of Libor plus 350 bps, compared to non-extended pricing of Libor plus 250 bps, the source continued.

Wells Fargo Securities LLC is the lead bank on the deal that launched with a call on Tuesday.

Commitments are due on June 1.

Lenders are being offered a 10 bps consent fee.

Consolidated Communications is a Mattoon, Ill.-based rural local exchange company providing voice, data and video services.

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