Patagonia Holdco launches $800 million term loan at SOFR plus 575 bps

By Sara Rosenberg

New York, July 18 – Patagonia Holdco (Lumen Latin America) launched on Monday an $800 million seven-year term loan B that is talked at SOFR plus 575 basis points with a 0.5% floor and an original issue discount of 90, according to a market source.

The term loan has 101 soft call protection for six months.

There is a recorded lender presentation for investors, and there will be a question-and-answer call at 10 a.m. ET on Wednesday to discuss the transaction, the source said.

JPMorgan Chase Bank, Goldman Sachs Bank USA, Citigroup Global Markets Inc., BofA Securities Inc., Natixis, Deutsche Bank Securities Inc. and Bank of Nova Scotia are the leads on the deal.

Commitments are due at 5 p.m. ET on July 26, the source added.

Proceeds will be used to help fund the buyout of Lumen Technologies’ Latin American business by Stonepeak for $2.7 billion.

Patagonia is a Latin American communications platform with a subsea, terrestrial fiber and data center footprint.

© 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.