Vast Broadband seeks $30 million add-on term loan at 99.75 OID

By Sara Rosenberg

New York, Feb. 7 – Vast Broadband is shopping a $30 million add-on first-lien term loan with original issue discount talk of 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 450 basis points with a 0% Libor floor.

SunTrust Robinson Humphrey Inc. is the lead on the deal that launched with a call on Feb. 6.

Commitments are due on Thursday, the source said.

Proceeds will be used to repay revolving credit facility borrowings and to add cash to the balance sheet.

Vast Broadband is a provider of broadband, video and voice services.

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