Telcordia to get new LBO loan via JPMorgan, Bear Stearns

By Sara Rosenberg

New York, Jan. 5 - Telcordia Technologies Inc. is expected to come to market with a new credit facility in "a couple of weeks" to help fund the leveraged buyout of the company by Providence Equity Partners and Warburg Pincus for $1.35 billion in cash, according to a market source.

JPMorgan and Bear Stearns are the lead banks on the deal, with JPMorgan the left lead.

No further details on the financing are available at this time, the source added.

Telcordia is a Piscataway, N.J, provider of telecommunications software and services for IP, wireline, wireless and cable systems.

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