Ufinet lifts incremental loan to $95 million, firms OID at 99.75

By Sara Rosenberg

New York, April 1 – Ufinet upsized its fungible incremental covenant-lite first-lien term loan due July 2025 to $95 million from $70 million and set the original issue discount at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the incremental term loan is Libor plus 450 basis points with a 0% Libor floor, in line with existing term loan pricing.

The incremental term loan has 101 soft call protection for six months and amortization of 1% per annum.

Credit Suisse Securities (USA) LLC, UBS Investment Bank, Natixis, Bank of Nova Scotia and Santander are the lead arrangers on the deal.

Recommitments were scheduled to be due at 1 p.m. ET on Thursday, the source added.

Proceeds will be used for general corporate purposes.

Ufinet is a Madrid-based provider of fiber infrastructure and transmission services to telecom operators.

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