$275 Million Increase to Fund Geo and Pending Neo Acquisitions
BOULDER, Colo.--(BUSINESS WIRE)--
Zayo Group, LLC (“Zayo”), announces it has successfully completed the
amendment of its credit agreement, including a $275 million add-on to
its term loan facility.
The $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 percent. 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 Ltd
(“Geo”), a London-based
dark fiber provider. The remaining proceeds will be used to fund
Zayo’s previously announced acquisition of Neo Telecoms Group (“Neo”),
which is expected to close on July 1, 2014, and for general corporate
Barclays, RBC Capital Markets and Morgan Stanley served as joint
bookrunners on the offering.
About Zayo Group
Based in Boulder, Colo., Zayo Group provides comprehensive Bandwidth
Infrastructure services in over 300 markets throughout the US and
Europe. Zayo delivers a full suite of lit services and dark fiber
products to wireline and wireless customers, data centers, Internet
content providers, high-bandwidth enterprises, and government agencies
across its robust 77,000 route mile network. The company also offers 27
carrier-neutral colocation facilities across the US. Please visit www.zayo.com for
more information about Zayo and its fiber solutions.
Linhart Public Relations for Zayo
Ashley Campbell, (303) 951-2568
Source: Zayo Group, LLC