Federal IT $20 million term loan B add-on to launch Thursday

By Sara Rosenberg

New York, March 21 - Federal IT is scheduled to hold a lender call on Thursday to launch a $20 million add-on to its term loan B tranche through an amendment to its existing credit facility, according to a market source.

Bear Stearns is the lead bank on the amendment.

"I believe the add-on is for an acquisition, but I don't know for sure. They'll discuss the details on the call," the source said.

Federal IT is a provider of information technology services to the intelligence defense sector.

© 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.