West establishes commitments for new term loans totaling $1.78 billion

By Angela McDaniels

Tacoma, Wash., June 17 – West Corp. entered into an amendment to its credit agreement to establish commitments for a new $870 million seven-year senior secured term loan B-12, a new $650 million five-year senior secured term loan A-2 and a new $260 million five-year senior secured term loan B-14, according to a company news release.

In addition, the amendment established a $300 million five-year senior secured revolving credit facility.

The company expects to use the proceeds from the new term loans and cash on hand to repay a portion of its existing term loan B-10 and term A-1 and to repay in full its existing term loan B-11.

As previously reported, the company will use the proceeds from $400 million of new 4¾% senior secured notes due 2021, which settled Friday, and cash on hand to repay a portion of its senior secured term loan due 2018.

West is an Omaha-based technology-driven communication services provider.

© 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.