DynCorp seeks $450 million credit facility

By Sara Rosenberg

New York, June 30 - DynCorp International Inc. is currently in market with a new $450 million credit facility, according to a market source.

Wachovia is the lead bank on the deal.

The facility consists of a $250 million revolver and a $200 million term loan A, with both tranches talked at Libor plus 275 basis points, the source said.

Proceeds will be used to refinance existing bank debt.

DynCorp is a Falls Church, Va., provider of defense, technical and government outsourced solutions.

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