RCN Cable withdraws $808 million term loan repricing from market

By Sara Rosenberg

New York, June 10 - RCN Cable (RCN Services Telecom LLC) pulled the repricing of its $808 million first-lien term loan due March 2020 from the primary market, according to a market source.

The term loan repricing was talked at Libor plus 325 basis points to 350 bps with a 1% Libor floor, a par offer price and 101 soft call protection for six months.

By comparison, current pricing on the loan is Libor plus 400 bps with a 1.25% Libor floor.

Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey Inc. were leading the deal.

RCN Cable is a cable provider that services Boston, Chicago, Washington, D.C., Lehigh Valley, Pa., New York City and Philadelphia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.