Zayo Group closes $300m senior notes offering

07 July 2017 | Jason McGee-Abe


Zayo Group has closed its previously announced private offering of $300 million aggregate principal amount of its 5.750% senior notes due 2027, through an add-on to its existing issue.

Zayo GroupAt the start of the year Zayo was planning to issue $800 million in senior notes ahead of its $1.42 billion takeover of Electric Lightwave, which closed in Q1 2017. Zayo intends to use the net proceeds from the 2027 Senior Notes offering to partially repay its outstanding term loan facility.

The 2027 senior notes have not been registered under the Securities Act and were offered and sold in the US only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-US persons in transactions outside the US in reliance on Regulation S under the Securities Act.

In other news this year, Zayo has boosted its senior executive ranks with the appointments of Andrew Crouch, who joined on 27 April as president and chief operating officer, and Edward Morche joined in May as its new president of sales and reports in to Crouch.