Zayo Group Announces Amendment and Re-Pricing of Credit Agreement
Company Expects to Save Approximately $30 Million of Annual Cash Interest Payments
(firmenpresse) - LOUISVILLE, CO -- (Marketwire) -- 10/05/12 -- Zayo Group announces it has successfully completed the amendment of its credit agreement, including the re-pricing of both its term loan and revolving credit facility.
The $1.6 billion Term Loan Facility will bear interest at LIBOR plus 4.00 percent, with a minimum LIBOR rate of 1.25 percent, and was priced at par. Its revolving credit facility remains undrawn and will bear interest at LIBOR plus 3.50 percent based on the current leverage level. As a result of the re-pricing, Zayo expects to save approximately $30 million of annual cash interest payments.
In addition, the company amended certain terms and provisions of its credit agreement, including increasing its incremental capacity, removing any leverage limitations on future acquisitions and reducing the revolving credit facility by $25 million to $225 million.
The closing of the transaction is scheduled to be completed on October 5, 2012.
Morgan Stanley and Barclays Capital served as joint bookrunners on the term loan re-pricing and SunTrust acted as the agent on the revolving credit facility.
Based in Louisville, Colo., privately owned Zayo Group () is an international provider of fiber-based Bandwidth Infrastructure and network-neutral colocation and interconnection services. Zayo Group serves wireline and wireless carriers, data centers, Internet content and services companies, high bandwidth enterprises as well as federal, state and local government agencies. Zayo Group provides these services over regional, metro, national, international and fiber-to-the-tower networks. With its recent acquisitions of AboveNet and FiberGate, Zayo Group's network assets include approximately 68,500 route miles, covering 45 states plus Washington, D.C. Additionally, Zayo Group has over 136,000 billable square feet of colocation space and approximately 10,000 on-net buildings, including 500+ data centers, 500+ Points-of-Presence (POPs), and 2,500+ cell towers.
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 05.10.2012 - 07:11 Uhr
Sprache: Deutsch
News-ID 1157655
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
LOUISVILLE, CO
Phone:
Kategorie:
Telecommunication Services
Anmerkungen:
Diese Pressemitteilung wurde bisher 197 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Zayo Group Announces Amendment and Re-Pricing of Credit Agreement
"
steht unter der journalistisch-redaktionellen Verantwortung von
Zayo Group (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
