Zayo Group Holdings Inc.-owned Zayo Group LLC closed its offering of $800 million in 5.750% senior notes due 2027.
As expected, Zayo Group LLC also amended its credit agreement, pursuant to which the existing $1.85 billion term loans were priced at 99.75% of par. Further, Zayo Group LLC added a new $650 million term loan tranche at a price of 99.75% of par.
The company said Jan. 27 that it plans to use the proceeds from the offering along with the $650 million term loan tranche to fund its planned acquisition of Electric Lightwave Parent Inc. Zayo will use any excess net proceeds for general corporate reasons, which may include repayment of other debts, acquisitions, working capital and capital expenditures.