FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Zayo Group Amends Credit Facilities With Morgan Stanley, Others

December 02, 2013, 07:38 AM
Filed Under: Communications

Zayo Group, LLC (“Zayo”), announces it has successfully completed the amendment of its credit agreement, including an add-on and re-pricing of its term loan and re-pricing of its revolving credit facility.

The $1.6 billion term loan facility was increased by $150 million to $1.75 billion and will bear interest at LIBOR plus 3.00 percent (versus the previous 3.50 percent), with a minimum LIBOR rate of 1.00 percent, and was priced at par. Its revolving credit facility will bear interest at LIBOR plus 2.75 percent (versus the previous 3.00 percent) based on the current leverage level. As a result of the re-pricing and incremental $150 million, Zayo expects to save approximately $2 million of annual cash interest payments. The incremental $150 million will be for general corporate purposes.

Morgan Stanley, Barclays Capital and RBC Capital Markets served as joint bookrunners and Citigroup, Goldman Sachs, SunTrust and UBS served as co-managers on the term loan re-pricing, and SunTrust acted as the agent on the revolving credit facility.

Based in Boulder, CO, privately owned Zayo Group is an international provider of fiber-based Bandwidth Infrastructure services and carrier-neutral colocation and interconnection services. Zayo serves wireline and wireless carriers, data centers, Internet content and services companies, high bandwidth enterprises, and federal, state and local government agencies. Zayo provides these services over metro, metro, national, international and fiber-to-the-tower networks.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.