KDL Breaks, Hits 101
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KDL Breaks, Hits 101

Kentucky Data Link's $240 million term loan broke for trading at 100 3/4 and was wrapped around 101 last Wednesday.

Kentucky Data Link's $240 million term loan broke for trading at 100 3/4 and was wrapped around 101 last Wednesday. A trader said the paper wasn't very active after the break. Bank of America led the credit, which initially comprised a five-year, $20 million revolver; a seven-year, $200 million term loan "B" and a seven-and-a-half-year, $40 million second-lien term loan. It is priced at LIBOR plus 2 1/4%. KDL, owned by Q-Comm Corp., is using the funds to back the acquisition of Norlight Telecommunications. Calls to a KDL spokesman were not returned.

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