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WaveDivision ups spread on term loan repricing to Libor plus 275 bps
By Sara Rosenberg
New York, Feb. 13 – WaveDivision Holdings LLC increased pricing on its $620.4 million term loan to Libor plus 275 basis points from Libor plus 250 bps and removed the 1% Libor floor so that there is no floor, according to a market source.
The term loan still has a par issue price and 101 soft call protection for six months.
Wells Fargo Securities LLC, Jefferies Finance LLC and SunTrust Robinson Humphrey Inc. are the leads on the deal.
Commitments were due at noon ET on Monday, the source said.
Proceeds will be used to reprice an existing term loan down from Libor plus 300 bps with a 1% Libor floor.
WaveDivision is a Kirkland, Wash.-based owner and operator of broadband cable systems.
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