IPC Systems to launch term loan amendment and extension on Friday

By Sara Rosenberg

New York, Feb. 23 - IPC Systems Inc. is set to hold a conference call at 11 a.m. ET on Friday for existing lenders to launch an amendment and extension of its existing first-lien term loan by three years, according to a market source.

Pricing on the extended loan will be Libor plus 450 basis points, compared to non-extended pricing of Libor plus 225 bps, the source said.

The extended loan will include a springing maturity.

Lenders will be offered a 10 bps amendment fee and a 15 bps extension fee, the source added.

J.P. Morgan Securities LLC is the lead bank on the deal.

IPC is a Jersey City, N.J.-based provider of specialized voice and data communications and trading collaboration services for the financial markets.

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