Zayo Closes $400 Million Term Loan Tranche from Existing Credit Agreement

Zayo Group announced that it has completed its offering of $400 million term loan tranche under an existing credit agreement. The new term loan tranche was priced 99% and will carry interest at a rate of LIBOR plus 3.5% with a minimum LIBOR rate of 1%. No other terms of the credit agreement were amended.

The company used the net proceeds to fund its acquisition of Allstream.