Ziply updates deal, frees to trade; Xplornet Communications, Ventia set price talk

By Sara Rosenberg

New York, May 21 – Ziply Fiber (Northwest Fiber) modified the original issue discount on its term loan B and then the debt made its way into the secondary market on Thursday.

Specifically, Ziply changed the original issue discount on its $790.5 million seven-year term loan B to 96.25 from 95, a market source remarked.

The term loan is priced at Libor plus 550 basis points with a 0% Libor floor and has 101 soft call protection for one year.

The term loan freed to trade later in the day, with levels quoted at 96¾ bid, 97¾ offered.

Xplornet Communications Inc. held its call on Thursday and announced price talk on its C$1.275 billion U.S. dollar equivalent seven-year covenant-lite first-lien term loan at Libor plus 475 bps with a 0% Libor floor and an original issue discount of 95.

Ventia Finco Pty Ltd. hosted a call during the session to launch a fungible roughly A$525 million equivalent incremental loan due May 21, 2026 available in U.S. and Australian dollars. Talk on the incremental U.S. term loan is Libor plus 450 bps to 475 bps with a 1% Libor floor. Talk on the incremental Australian term loan is BBSY plus 550 bps to 575 bps with a 0% floor. Both tranches are talked with an original issue discount in the 97 area and have 101 soft call protection for one year.

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