Language Line to launch $240 million term loan Monday

By Sara Rosenberg

New York, Oct. 25 - Language Line Inc. is scheduled to hold a bank meeting on Monday to launch an about $240 million term loan, according to a market source.

Merrill Lynch and Bank of America are the lead banks on the deal.

The term loan will be used to refinance at a lower rate the company's existing $240 million term loan that is priced at Libor plus 425 basis points, the source said.

Language Line is a Monterey, Calif.-based provider of over-the-phone interpretation services from English into more than 150 languages.

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