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Mega Broadband launches $155 million term loan at 99.25-99.5 OID
By Sara Rosenberg
New York, Dec. 9 – Mega Broadband Investments LLC launched without a lender call on Thursday a fungible $155 million incremental term loan B (B+) that is talked with an original issue discount of 99.25 to 99.5, according to a market source.
Pricing on the incremental term loan is Libor plus 300 basis points with a 0.75% Libor floor, which matches existing term loan pricing.
Truist Securities Inc. is the left lead on the deal.
Commitments are due at 5 p.m. ET on Friday, the source added.
Proceeds will be used to fund a distribution to shareholders and pay down revolving credit facility borrowings.
Mega Broadband is a broadband provider.
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