Zayo Group announced it has successfully completed an amendment of its credit agreement, including a $275 million add-on to its term loan facility.

Barclays, RBC Capital Markets and Morgan Stanley served as joint bookrunners on the offering.

The initial $1.74 billion term loan facility was increased by the $275 million to $2.015 billion, and will bear interest at the existing rate of LIBOR plus 3.00 percent, with a minimum LIBOR rate of 1.00%. The $275 million add-on was priced at 99.5. No other terms of the credit agreement were amended.

A portion of the offering proceeds were used to repay Zayo’s $150 million of borrowings on its revolving credit facility, which was drawn to help fund its previously announced acquisition of Geo Networks, a London-based dark fiber provider.

The remaining proceeds will be used to fund Zayo’s previously announced acquisition of Neo Telecoms Group, which is expected to close on July 1, 2014, and for general corporate purposes.

Zayo Group is a provider of comprehensive bandwidth infrastructure services in over 300 markets throughout the US and Europe.