FirstLight Fiber launches $75 million of incremental term loans

By Sara Rosenberg

New York, May 3 – FirstLight Fiber (Flight Bidco Inc.) held a lender call on Friday to launch $75 million of incremental term loans, according to a market source.

The debt consists of a $65 million incremental first-lien term loan due July 2025 talked with an original issue discount of 98.6 and a $10 million incremental second-lien term loan due July 2026 talked with a discount of 98.3, the source said.

Pricing on the incremental first-lien term loan is Libor plus 350 basis points with a 0% Libor floor and pricing on the incremental second-lien term loan is Libor plus 750 bps with a 0% Libor floor.

UBS Investment Bank is the lead arranger on the deal.

Commitments are due on May 10, the source added.

Proceeds will be used to fund an acquisition.

FirstLight is an Albany, N.Y.-based fiber-optic bandwidth infrastructure services provider.

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