WideOpenWest ups spread on $1.4 billion term B to Libor plus 350 bps

By Sara Rosenberg

New York, May 15 – WideOpenWest Finance LLC lifted pricing on its $1,411,000,000 first-lien term loan B due April 1, 2019 to Libor plus 350 basis points from Libor plus 325 bps, according to a market source.

Also, it was outlined that the MFN applies regardless of the tenor of any incremental term loan, the source said.

The term loan still has a 1% Libor floor, a par issue price, 101 soft call protection for six months and a maximum senior secured net leverage covenant.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan B due April 1, 2019 following a $118 million prepayment from Libor plus 375 bps with a 1% Libor floor.

Along with the repricing, the company is seeking to amend its credit facility to permit the refinancing of senior subordinated notes with senior unsecured notes and to make lender-friendly changes.

Commitments were due at 2 p.m. ET on Friday, the source added.

WideOpenWest is a Denver-based provider of data, video and telephony services.

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