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U.S. TelePacific to launch $385 million credit facility on Wednesday
By Sara Rosenberg
New York, Jan. 25 - U.S. TelePacific is scheduled to hold a bank meeting on Wednesday to launch its proposed $385 million credit facility, according to a market source.
Credit Suisse, Deutsche Bank and Bank of America are the lead banks on the deal.
The facility consists of a $25 million revolver and a $360 million term loan, the source said.
Proceeds will be used to refinance existing debt.
U.S. TelePacific is a Los Angeles-based competitive local exchange carrier.
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