ViaWest $120 million add-on term loan priced at Libor plus 375 bps

By Sara Rosenberg

New York, Sept. 9 - ViaWest completed syndication of a $120 million add-on term loan that is priced at Libor plus 375 basis points with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

With the add-on, the company repriced its existing term loan down to Libor plus 375 bps.

All of the term loan debt has 101 soft call protection for six months.

RBC Capital Markets is the lead bank on the deal.

Proceeds will be used to repay mezzanine debt and for acquisitions.

Pro forma leverage is 4.5 times based on June 30 EBITDA, the source added.

ViaWest is a Greenwood Village, Colo.-based data center, cloud computing and managed services provider.

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