FirstLight increases first-lien incremental term loan to $80 million

By Sara Rosenberg

New York, May 9 – FirstLight Fiber (Flight Bidco Inc.) upsized its incremental first-lien term loan due July 2025 to $80 million from $65 million, according to a market source.

The company still plans on getting a $10 million incremental second-lien term loan due July 2026.

As before, the incremental first-lien term loan is talked with an original issue discount of 98.6 and the incremental second-lien term loan is talked with a discount of 98.3.

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 continue to be due on Friday, the source added.

Proceeds will be used to fund an acquisition and, due to the upsizing, for general corporate purposes.

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

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