Verizon Increases 'B' Loan
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Verizon Increases 'B' Loan

The term loan "B" for The Carlyle Group's purchase of Verizon Hawaii was increased by $50 million last week.

The term loan "B" for The Carlyle Group's purchase of Verizon Hawaii was increased by $50 million last week. The increased facility consists of a $175 million revolver, a seven-year, $300 million term loan "A" and a seven-and-a-half year, $450 million term loan "B." Pricing has remained at 2 1/4% on all tranches. JPMorgan, Goldman Sachs and Lehman Brothers are leading the deal (LMW, 4/15). The company also sold $500 million in the 144a private placement market. The senior subordinated coupon was boosted to 12 1/2% from 10 1/2%.

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