Integra Telecom launches $20 million add-on second-lien term loan

By Sara Rosenberg

New York, March 11 - Integra Telecom launched a $20 million add-on to its second-lien term loan due 2020 on Monday morning and asked for commitments by 3 p.m. ET on Monday, according to a market source.

Pricing on the add-on is Libor plus 850 basis points with a 1.25% Libor floor, in line with existing second-lien pricing.

The add-on was launched at a premium of 102 to 1021/2, and by late day the offer price had firmed at 1021/2, the source said.

Proceeds will be used for general corporate purposes.

Morgan Stanley Senior Funding Inc. and BofA Merrill Lynch are the lead banks on the deal.

Integra Telecom is a Portland, Ore., fiber-based telecommunications carrier.

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