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UbiquiTel $250 million seven-year notes price talk 10%-10¼%, to price Thursday
By Paul A. Harris
St. Louis, Feb. 11 - Price talk of 10% to 10¼% emerged Wednesday on UbiquiTel Inc.'s proposed $250 million offering of seven-year senior notes (Caa1/CCC), a market source said.
The deal is expected to price on Thursday.
Bear Stearns & Co., Citigroup and Banc of America Securities are joint bookrunners on the Rule 144A offering.
The notes come with three years of call protection.
Proceeds will be used to repay the company's senior secured credit facility and redeem its 14% series B senior discount notes due 2008.
UbiquiTel is a Conshohocken, Pa., wireless phone company affiliated with Sprint.
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