New Issue: Telcordia prices $555 million Libor plus 375 bps five-year notes at 99

By Paul A. Harris

St. Louis, June 26 - Telcordia Technologies, Inc. priced a $555 million offering of three-month Libor plus 375 basis points five-year first-lien senior secured floating-rate notes (B2/B) at 99.00 on Tuesday, according to market sources.

The price talk was Libor plus 350 to 375 bps.

Credit Suisse and JP Morgan were joint bookrunners.

Proceeds will be used to refinance debt.

Telcordia is a Piscataway, N.J., software and services provider to communications networks.

Issuer:	Telcordia Technologies Inc.
Face amount:	$555 million
Proceeds:	$549.45
Maturity:	July 15, 2012
Bookrunners:	Credit Suisse, JP Morgan
Security description:	First-lien senior secured floating-rate notes
Coupon:	Three-month Libor plus 375 bps
Price:	99.00
Call features:	Callable on July 15, 2008 at 102, 101, par on and after July 15, 2010
Trade date:	June 26
Settlement date:	June 29
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A for life
Price talk:	Libor plus 350 to 375 bps

© 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.