FirstLight finalizes $275 million term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, Aug. 11 – FirstLight Fiber set pricing on its $275 million term loan B at Libor plus 400 basis points, the low end of the Libor plus 400 bps to 425 bps talk, according to a market source.

In addition, the original issue discount on the term loan firmed at 99.5, the tight end of the 99 to 99.5 talk, the source said.

The term loan still has a 1% Libor floor.

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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