EQT Infrastructure III has repriced the USD 1.025bn term loan B (TLB) for Lumos Networks, which it acquired earlier this month, Inframation has learned.
The TLB priced at 300bps over Libor, at the wider end of price talk, with a 1% floor and was issued at par.
Morgan Stanley led the TLB, which will mature on 17 November 2024. Goldman Sachs and SunTrust were also bookrunners.
The final closing on the TLB is expected during the week of 18 May.
The original buyout was funded through USD 960m in TLB, priced at 325bps over Libor. This repricing adds an additional USD 65m for general corporate purposes.
As reported, EQT completed the acquisition of Lumos and Sprint earlier this month without formally merging them.