Earlier this week, Integra has issued the refinance package. As a result, Zayo made a similar move because it looks like that there is a window of opportunities for credit in fiber operators industry.
Zayo refinanced their $1.6 billion to coped with $12 million interest expense annually and therefore lowering the interest rate. It’s been a few months since October that they cut the rate on their term loan facility from LIBOR+4% with a minimum of 1.25% to LIBOR+3.5% with a minimum of 1.0%. Zayo is getting ready to make the big move for the huge M&A move and ready to grab the next deal with their new balance sheet.
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