FirstLight Fiber shops $30 million add-on loan at par issue price

By Sara Rosenberg

New York, Feb. 2 – FirstLight Fiber is in market with a fungible $30 million add-on term loan B (B-) due 2024 that is offered at par, according to a market source.

Pricing on the term loan is Libor plus 400 basis points with a 1% Libor floor, the source said.

TD Securities is the sole lead arranger and bookrunner on the deal.

Proceeds will be used to pay down revolver borrowings and fund capital expenditures.

Commitments are due on Thursday, the source added.

Including the add-on, the term loan will total around $304 million.

FirstLight Fiber is an Albany, N.Y.-based bandwidth infrastructure provider.

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