TowerCo launches $397 million term loan B at Libor plus 350 bps

By Sara Rosenberg

New York, March 13 - TowerCo Finance LLC launched a $397 million term loan B repricing on Tuesday with talk of Libor plus 350 basis points with a 1% Libor floor, according to a market source.

The debt was originally obtained in January 2011 at pricing of Libor plus 375 bps with a 1.5% Libor floor.

With the repricing, the 101 soft call protection will be extended for one year, the source said.

Commitments are due on March 20.

Morgan Stanley Senior Funding, Inc. is the lead arranger on the deal and a joint bookrunner with TD Securities (USA) LLC and Fifth Third Securities Inc. TD is the administrative agent.

TowerCo is a Cary, N.C.-based owner and leaser of communication towers.

© 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.