GTA TeleGuam firms spread on first-and second-lien term loans

By Sara Rosenberg

New York, June 7 - GTA TeleGuam finalized pricing on its $122 million first-lien six-year term loan B at Libor plus 400 basis points, the wide end of the Libor plus 375 bps to 400 bps talk, and on its $42 million seven-year second-lien term loan at Libor plus 750 bps, the tight end of the Libor plus 750 bps to 775 bps talk, according to a market source.

Both term loans still have a 1.25% Libor floor.

Also, the first-lien loan still has an original issue discount of 99½ and 101 soft call protection for six months, and the second-lien term loan still has a discount of 99 and call protection of 102 in year one and 101 in year two.

The company's $174 million credit facility also includes a $10 million five-year revolver.

BNP Paribas Securities Corp. is the lead bank on the deal.

Proceeds will be used to refinance existing debt and fund a dividend.

GTA TeleGuam is a Tamuning, Guam-based provider of communications services.

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