Tue 11/14/2023 17:00 PM
Xplore Inc., the Stonepeak Infrastructure Partners-backed broadband service provider, is weighing financing options, including a potential drop-down transaction, to bolster liquidity, according to sources.
Last week, Reorg
reported that Xplore had asked lenders and their advisors to sign nondisclosure agreements. The company itself is working with Paul Weiss, Goodmans and Perella Weinberg Partners, while Gibson Dunn and Greenhill represent an ad hoc group of lenders.
The average price of the company’s L+400 bps first lien term loan due 2028 is 66.92, down from 81.29 three months ago, according to Solve Advisors, while the average price of the second lien term loan is 38.84, down from 50.25 in the same comparison.
Xplore and company sponsor Stonepeak Infrastructure Partners did not respond to requests for comment.
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