Alcatel-Lucent subsidiary cuts loan interest rate, makes other changes

By Angela McDaniels

Tacoma, Wash., March 10 - Alcatel-Lucent subsidiary Alcatel-Lucent USA, Inc. amended its credit agreement on Feb. 18, according to a 6-K filing with the Securities and Exchange Commission.

The interest rate for U.S. term loans was lowered to Libor plus 350 basis points from Libor plus 475 bps.

The amendment also added Morgan Stanley Senior Funding, Inc. and Credit Suisse Securities (USA) LLC as new arrangers and made changes to the definitions of "asset sale" and "repricing transaction."

In connection with the amendment, the company paid a 0.476% ticking fee, which is equal to 3.5% per year for the time elapsed between Jan. 1 and the amendment effective date.

Credit Suisse AG is the administrative agent.

Alcatel-Lucent is a Paris-based provider of products in IP and cloud networking and ultra-broadband fixed and wireless access.

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