Segra firms $275 million term loan original issue discount at 96

By Sara Rosenberg

New York, May 27 – Segra (MTN Infrastructure TopCo Inc.) finalized the original issue discount on its $275 million term loan (B) at 96, the tight end of revised talk of 95.5 to 96 and tighter than initial talk in the range of 94 to 95, according to a market source.

Pricing on the term loan is Libor plus 400 basis points with a 1% Libor floor, and the debt has 101 soft call protection for six months, which is all in line with talk at launch.

TD Securities (USA) LLC and CoBank are the leads on the deal.

Proceeds will primarily be used to support the recently completed acquisition of NorthState, a provider of high-speed bandwidth services in the Piedmont Triad region of North Carolina, for $80.00 in cash per share.

Segra is a fiber infrastructure bandwidth company.

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