Zayo Wraps Up $1.4 Billion Debut Fiber-Backed Bond Sale
- Debt is backed by fiber network infrastructure and contracts
- Transaction priced inside of guidance across three tranches
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Fiber network firm Zayo Group Holdings Inc. completed its first bond sale backed by fiber-network infrastructure and customer contracts as issuance of such deals sees a strong start to the year.
Zayo sold $1.4 billion worth of bonds in a process that wrapped up Friday, and which began just over a week ago. The debt is secured by its fiber network infrastructure and associated contracts, with annualized recurring revenue of about $309 million.