DynCorp seeks lower loan pricing and revolver upsizing

By Sara Rosenberg

New York, June 21 - DynCorp International Inc. is currently in market with what is basically a repricing of its existing credit facility and an upsizing of its revolver tranche, according to a market source.

Goldman Sachs is the lead bank on the deal.

Under the proposal, the company's revolver would be increased to $120 million from $90 million.

In addition, pricing on the revolver as well as on the company's $342 million term loan would be reduced to Libor plus 200 basis points from Libor plus 250 bps, the source said.

"I believe they will be treating this as an amendment request. As far as I know, they're only going out to existing lenders," the source said.

A conference call to launch the transaction was held on Tuesday.

DynCorp is an Irving, Texas, provider of outsourced technical services to civilian and military government agencies and commercial customers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.