TITLE

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

AUTHOR(S)
Kellerhals, Richard
PUB. DATE
October 2010
SOURCE
High Yield Report;10/18/2010, Vol. 21 Issue 42, p14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
54551573

 

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