Metronet Systems wraps $125M add-on term loan at tight end of talk; terms

Metronet Systems Holdings LLC has completed its $125 million fungible add-on first-lien term loan that priced at the tight end of talk at an original issue discount of 99.75 via a Goldman Sachs-led arranger group, according to sources. The add-on is fungible with the issuer's existing covenant-lite first-lien term loan due June 2028 that is priced at L+375, with a 0.75% Libor floor. Proceeds from the deal will be used to repay revolver borrowings. Metronet is a provider of high-speed broadband, video and voice services over a 100% fiber-to-the-premises network serving residential and commercial customers.

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