Consumer Cellular to launch $1.1 billion term loan B on Wednesday

By Sara Rosenberg

New York, Dec. 1 – Consumer Cellular Inc. is set to hold a lender call at 11 a.m. ET on Wednesday to launch a $1.1 billion seven-year first-lien term loan B, according to a market source.

BofA Securities Inc., Barclays, Jefferies LLC and Credit Suisse Securities (USA) LLC are the lead banks on the deal.

The company is also planning on getting a $300 million privately placed second-lien term loan.

Proceeds will be used to help fund the buyout of the company by GTCR.

Closing is expected this quarter.

Consumer Cellular is a Portland, Ore.-based provider of postpaid wireless services.

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