Switch launches $400 million term loan B at Libor plus 200-225 bps

By Sara Rosenberg

New York, July 14 – Switch launched on Wednesday its $400 million seven-year term loan B with price talk of Libor plus 200 basis points to 225 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

BMO Capital Markets, Wells Fargo Securities LLC, Goldman Sachs Bank USA and JPMorgan Chase Bank are the leads on the deal.

Proceeds will be used to amend and extend an existing term loan B due 2024.

Switch is a Las Vegas-based developer and operator of data centers.

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