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RCN Cable launches term loan repricing to Libor plus 325 bps
By Sara Rosenberg
New York, April 21 – RCN Cable (RCN Services Telecom LLC) held a call on Tuesday to launch a repricing of its $759.2 million term loan due March 2020 to Libor plus 325 basis points from Libor plus 350 bps, according to a market source.
The 1% Libor floor on the term loan will be unchanged.
Lenders are being offered the repriced term loan at par.
The repriced loan will have 101 soft call protection for six months, the source said.
Commitments are due at 5 p.m. ET on Friday.
SunTrust Robinson Humphrey Inc. is the lead on the deal.
RCN Cable is a cable provider.
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