Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers U > Headlines for US TelePacific Corp. > News item |
U.S. TelePacific postpones launch of $530 million credit facility
By Sara Rosenberg
New York, July 29 – U.S. TelePacific Corp. postponed the Tuesday bank meeting for its $530 million credit facility due to scheduling conflicts, according to a market source.
The bank meeting will be rescheduled for a date to be announced, the source said.
Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the bookrunners on the deal.
The facility consists of a $25 million five-year revolver and a $505 million six-year first-lien term loan.
Included in the deal is a maximum total leverage covenant.
Proceeds will be used to refinance existing debt.
U.S. TelePacific is a Los Angeles-based competitive local exchange carrier.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.