Communications Corp. of America sets Tuesday lender call for $157.5 million term loan

By Paul A. Harris

Portland, Ore., Oct. 1 - Communications Corp. of America has scheduled a Tuesday lender call for its $157.5 million 5.5-year term loan B (B2/B), according to a market source.

J.P. Morgan Securities LLC is the lead.

The deal is talked with a Libor spread of 700 basis points, with a 1.5% Libor floor. The original issue discount remains to be determined.

Proceeds will be used to refinance existing debt.

The borrower is a Louisiana-based TV broadcasting company focused on operating local TV stations in small- and medium-sized markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.