Dobson Operating obtains temporary $30 million revolver

By Sara Rosenberg

New York, Oct. 2 - Dobson Operating Co. LLC obtained a second amended, restated and consolidated credit agreement providing for a new $30 million revolver, which will be terminated upon the completion of Dobson Cellular Systems Inc.'s $700 million credit facility in early October.

Lehman Commercial Paper Inc., Bear Stearns Corporate Lending Inc. and Morgan Stanley Senior Funding Inc. are the lead banks on the temporary revolver, which will be used for operations and general corporate needs, according to a filing with the Securities and Exchange Commission.

The company obtained this revolver in conjunction with the repayment of all outstanding debt under its existing facility. This repayment was funded with a portion of the proceeds from the recently completed $650 million senior notes sale.

Dobson Operating is a subsidiary of Dobson Communications Corp., an Oklahoma City provider of rural and suburban wireless communications services.

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