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FirstLight shops $275 million term loan B at Libor plus 400-425 bps
By Sara Rosenberg
New York, July 28 – FirstLight Fiber is talking its $275 million term loan B at Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99 to 99.5, according to a market source.
The company’s $300 million of credit facilities (B2/B) also include a $25 million revolver.
TD Securities (USA) and Citizens Bank are the joint lead arrangers on the debt.
Proceeds will be used to refinance existing debt and to fund acquisition activity.
FirstLight Fiber is an Albany, N.Y.-based fiber-optic bandwidth infrastructure services provider.
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