Daily News: February 27, 2018

Morgan Stanley Agents New $150MM Term Loan for Zayo

Zayo Group amended its credit facility, adding a new $150 million term loan trannche. According to a related 8-K filing, Morgan Stanley acted as administrative agent for the company’s term loan, while SunTrust served as agent for its revolving credit facility.

JPMorgan Chase, Barclays Bank, Goldman Sachs and Citigroup Global Markets were members of the lending syndicate.

The incremental $150 million tranche will bear interest at LIBOR + 2.25%, with a minimum LIBOR rate of 1.0%  and a maturity date of January 19, 2024. The company intends to use the proceeds of the term loan for general corporate purposes, including the funding of acquisitions permitted under the credit agreement. No other terms of the credit agreement were amended.

Zayo Group Holdings provides communications infrastructure solutions, including fiber and bandwidth connectivity, colocation and cloud infrastructure to businesses.