Cincinnati Bell launches $400 million term loan

By Paul A. Harris

Portland, Ore., Aug. 12 - Cincinnati Bell Inc. kicked off a new $400 million seven-year term loan B (Ba3) at a Monday bank meeting, according to market sources.

Bank of America Merrill Lynch, Barclays, Deutsche Bank and Morgan Stanley are leading the deal.

Proceeds from the term loan will be used to repay a portion of the company's 8¼% senior notes due 2017 and for general corporate purposes.

In order to obtain the B loan, the company will have to amend its existing credit facility to allow for the new debt, and the amendment will also make some other modifications to the facility, the release said.

Cincinnati Bell is a Cincinnati-based provider of integrated communications solutions.

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