IPC Systems to launch $900 million credit facility on Wednesday

By Sara Rosenberg

New York, April 14 - IPC Systems Inc. is scheduled to hold a bank meeting on Wednesday to launch a $900 million credit facility, according to a market source.

Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Barclays and Citigroup Global Markets Inc. are the lead banks on the deal.

The facility consists of a $25 million revolver, a $525 million 61/2-year first-lien term loan and a $350 million seven-year second-lien term loan, the source said.

Proceeds will be used to refinance existing debt.

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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