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Cable One seeks $496.3 million term loan B at Libor plus 175-200 bps
By Sara Rosenberg
New York, April 11 – Cable One Inc. held a lender call on Wednesday to launch a $496.3 million term loan B due May 2024 talked at Libor plus 175 basis points to 200 bps with a 0% Libor floor and an original issue discount of 99.75, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
J.P. Morgan Securities LLC is the lead bank on the debt.
Proceeds will be used to reprice an existing term loan B down from Libor plus 225 bps with a 0% Libor floor.
Commitments are due on April 18, the source added.
Cable One is a Phoenix-based cable company.
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