QwestDex to hold institutional bank meeting Monday

By Sara Rosenberg

New York, Oct. 2 - QwestDex is scheduled to hold a bank meeting for institutional investors on Monday regarding its approximately $1.5 billion credit facility, a source close to the deal told Prospect News. JPMorgan, Bank of America, Deutsche Bank, Lehman Brothers and Wachovia Securities are the lead banks on the deal.

The loan is anticipated to consist of a six-and-a-half-year term loan B sized at about $700 million with an interest rate of Libor plus 350 basis points and a six-year pro rata portion sized at approximately $800 million with an interest rate of Libor plus 300 basis points, the source said. "All of this is subject to change," he warned. "Details will be finalized before the bank meeting."

Proceeds will be used to help fund the leveraged buyout of QwestDex by The Carlyle Group and Welsh, Carson, Anderson & Stowe.

QwestDex is a directory services company.

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