Triton PCS sets price talk of on $250 million term loan

By Sara Rosenberg

New York, Nov. 4 - Triton PCS Inc. set price talk of Libor plus 350 to 375 basis points on its $250 million senior secured term loan at Thursday's bank meeting, according to a market source.

Lehman is the sole lead bank on the deal, with Merrill Lynch as an agent.

Proceeds will be used for general corporate purposes, possible acquisitions and to retire, from time to time, some outstanding debt securities through open market purchases and privately negotiated transactions.

The term loan would replace Triton's $100 million senior secured revolving credit facility.

Triton is a Berwyn, Pa., wireless phone service provider.

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