Fiber-Network Firm Zayo Nears Debt-Extension Deal With Creditors

Zayo Group Holdings Inc. is nearing a tentative agreement with creditors that would extend maturities on some of the fiber-network operator’s multibillion-dollar debt pile, according to people familiar with the situation.

The framework would entail lenders of a nearly $5 billion secured loan due 2027 being partially paid and unsecured creditors receiving a coupon bump in return for agreeing to extend due dates, said the people, who asked not to be identified discussing a private matter.

Some added that the tentative deal would also address how Zayo plans to finance its pending acquisition of Crown Castle Inc. fiber assets.

The ...