Worldspan seeks $440 million credit facility

By Sara Rosenberg and Paul A. Harris

New York, Jan. 25 - Worldspan LP is looking to get a new $440 million senior credit facility consisting of a $40 million revolver and $400 million in term loans, according to a company news release.

Market talk is that Deutsche Bank Securities, Goldman Sachs & Co., JP Morgan, Lehman Brothers and UBS Investment Bank will all be involved in the new facility, although confirmation of these five lead banks was unavailable prior to press time.

Proceeds from the facility, along with proceeds from a $350 million senior second-lien secured floating-rate note offering, will be used to help fund a tender offer for the company's 9 5/8% senior notes, refinance existing bank debt, redeem preferred stock issued by parent company Worldspan Technologies Inc. and prepay and terminate sponsor advisory fees and dividends on Worldspan Technologies class B common stock.

Any remaining proceeds will be used for general corporate purposes.

Worldspan is an Atlanta operator of computerized reservation systems.

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