Zayo Group launches $1.43 billion term loan B-2 at Libor plus 225 bps

By Sara Rosenberg

New York, June 26 – Zayo Group LLC held a lender call at 11:30 a.m. ET on Monday to launch a $1,429,925,000 senior secured covenant-light term loan B-2 due Jan. 19, 2024 that is talked at Libor plus 225 basis points with a 1% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Morgan Stanley Senior Funding Inc., Barclays, SunTrust Robinson Humphrey Inc., RBC Capital Markets, Citigroup Global Markets Inc., Goldman Sachs Bank USA and J.P. Morgan Securities LLC are the joint lead arrangers and bookrunners on the deal.

Proceeds will be used to reprice an existing term loan B-2 due 2024 from Libor plus 250 bps with a 1% Libor floor.

Consents/commitments are due at 5 p.m. ET on Wednesday, the source added.

Zayo is a Boulder, Colo.-based provider of communications infrastructure services.

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