Daily News: February 11, 2013

Bragg Seeks Lower Rate on Deal Arranged by TD Securities.


Bloomberg reported, according to a person with knowledge of the transaction, Bragg Communications, a provider of television and telephone services, plans to lower the rate it will pay on a $300 million term loan.

According to Bloomberg, TD Securities is arranging the financing.

Bloomberg said, according to the person, the interest rate on the debt will be reduced to 2.75% over LIBOR from 3% and the loan will be sold at par.

To read the entire Bloomberg story, click here.