Syniverse to tender for 12¾% notes as part of IPO

New York, Jan. 4 - Syniverse Holdings, Inc. plans to tender for some of its 12¾% senior subordinated notes as part of a refinancing linked to its planned initial public offering of common stock.

The Tampa, Fla.-based communications technology company currently has $245 million of the notes outstanding.

Syniverse has filed with the Securities and Exchange Commission for a $422.5 million IPO via bookrunners Lehman Brothers, Goldman, Sachs & Co. and Bear, Stearns & Co. Inc.

As part of the refinancing, Syniverse will also obtain a new $290 million credit facility via Lehman.

Proceeds from the IPO and bank loan will be used to refinance all outstanding bank debt, tender for the 12¾% notes and redeem convertible preferred stock.

© 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.