Intermedia discloses price guidance on $260 million term loan B

By Sara Rosenberg

New York, July 5 – Intermedia released price talk on its $260 million seven-year term loan B ahead of its July 10 bank meeting, according to a market source.

The term loan B is talked at Libor plus 575 basis points to 600 bps with a 0% Libor floor and an original issue discount of 98 to 99, the source said.

The company’s $285 million of credit facilities (B3/B) also include a $25 million five-year revolver.

TD Securities (USA) LLC is the lead arranger on the deal.

Proceeds will be used to refinance existing first- and second-lien term loans.

Commitments are due on July 18, the source added.

Intermedia, a Madison Dearborn Partners portfolio company, is a Mountain View, Calif.-based provider of Unified Communications as a Service and business cloud applications software.

© 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.