Dobson Communications to launch $700 million credit facility Sept. 16

By Sara Rosenberg

New York, Sept. 8 - Dobson Communications Corp. is scheduled to hold a bank meeting for a $700 million senior credit facility on Sept. 16, according to a syndicate source. Lehman Brothers and Bear Stearns are joint lead arrangers and book managers on the deal and Morgan Stanley is an underwriter as well.

The facility consists of a $550 million 61/2-year term loan B and a $150 million six-year revolver. Price talk on the price tranches has not yet emerged.

Proceeds from the bank facility and a $600 million bond offering will be used to refinance and replace outstanding borrowings under the existing credit facilities, to fund the repurchase of Dobson/Sygnet Communications Co.'s 12¼% senior notes and to fund the repurchase of up to $250 million of its 12¼% senior preferred stock.

Dobson is an Oklahoma City provider of rural and suburban wireless communications services.

© 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.