Banks Shop $595M Credit Facility for Global Tel*Link

Kellerhals, Richard
October 2010
High Yield Report;10/18/2010, Vol. 21 Issue 42, p14
The article reports on the move of Credit Suisse, UBS and Goldman Sachs to start shopping 595 million U.S. dollars in loans for Global Tel*Link's dividend recapitalization. Global Tel*Link, a provider of telecommunications for correctional institutions, will use the proceeds from the issue to fund a dividend payment to the company's private equity owners, Veritas Capital, and to refinance existing debt. A B rating was assigned to the term loan B and a CCC+ rating to the second-lien term loan by Standard & Poor's.


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