Monday, May 19, 2014

Zayo Group Gets $275M For Acquisitions

Boulder-based bandwidth provider Zayo Group reported this morning that it has raised $275M in a term loan facility to go towards two acquisitions. Zayo said the term loan--which is an add on to an existing, $1.74 billion term loan facility--will go towards the acquisitions of Geo Networks and Neo Telecoms Group. Both of those acquisition had been announced earlier. The company said the facility has been increased to a total of $2.015 billion, at a rate of LIBOR plus 3.00 percent. Zayo has been in major expansion mode, and is reportedly in the midst of an IPO effort.