Mega Broadband launches $60 million incremental term loan at 99.3 OID

By Sara Rosenberg

New York, April 4 – Mega Broadband Investments LLC launched on Thursday a fungible $60 million incremental covenant-lite term loan B due 2027 with original issue discount talk of 99.3, according to a market source.

Pricing on the term loan is SOFR+CSA plus 300 basis points with a 25 bps step-down at 4.75x leverage and a 0.75% floor.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Truist Securities, UBS Investment Bank, Citizens Bank and others to be named are the joint lead arrangers on the deal.

Commitments are due at noon ET on Wednesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings.

Mega Broadband is a broadband provider.

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