February 27, 2018 / 3:07 PM / 19 days ago

CORRECTED-GTT considering HY bond, term loans for Interoute acquisition

(Corrects acquisition announcement date to Monday)

By Yoruk Bahceli

LONDON, Feb 27 (IFR) - GTT Communications is considering a US dollar-denominated high-yield bond and secured term loans in US dollars and euros for its acquisition of Interoute, according to a GTT spokesperson.

The acquisition, which was announced on Monday, is worth approximately €1.9bn.

A banker with knowledge of the matter said the deal was expected to be launched imminently.

Global cloud networking provider GTT announced on Tuesday that it received committed debt financing for its acquisition of European fibre networks and cloud networking operator Interoute.

GTT also said it received committed equity financing of US$250m from GTT’s largest institutional investor, The Spruce House Partnership, as well as Acacia Partners.

GTT has US$2.71bn of debt outstanding, according to Thomson Reuters data. All of its US dollar high-yield bond deals were led by Credit Suisse, according to IFR data. (Reporting by Yoruk Bahceli, editing by Philip Wright)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below