ViaWest to launch $140 million credit facility on Wednesday via RBC

By Sara Rosenberg

New York, April 20 - ViaWest Inc. is scheduled to hold a bank meeting on Wednesday to launch its proposed $140 million credit facility, according to a market source.

RBC is the lead bank on the deal.

The facility consists of a $10 million revolver, a $110 million first-lien term loan and a $20 million delayed-draw term loan, with all tranches talked at Libor plus 450 basis points with a 2% Libor floor and an original issue discount that is still to be determined, the source said.

The revolver and the delayed-draw term loan are expected to be undrawn at closing.

Proceeds will be used to help fund the buyout of the company by Oak Hill Capital Partners from Trinity Equity Investors, Goldman Sachs & Co. and Quilvest.

Other financing for the acquisition will come from a $60 million "silent" second-lien term loan that Oak Hill has already put in place with Barclays Structured Principal Investing Fund LP and Solar Capital Ltd, the source added.

Completion of the transaction is expected in the second quarter, subject to regulatory approvals and customary closing conditions.

ViaWest is a Denver-based data center and managed services company.

© 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.