Worldspan to launch $440 million credit facility Thursday

By Sara Rosenberg

New York, Jan. 26 - Worldspan LP has scheduled a bank meeting for Thursday afternoon to launch its previously announced $440 million senior credit facility, according to a market source.

JPMorgan and UBS are joint bookrunners on the deal, with JPMorgan acting as the left lead. Lehman Brothers, Deutsche Bank Securities and Goldman Sachs & Co are all agents as well.

The facility consists of a $40 million revolving credit facility and a $400 million term loan, the source said.

Proceeds from the facility, along with proceeds from a notes offering, will be used to help fund the tender offer for the company's 9 5/8% senior notes, refinance existing bank debt, redeem preferred stock issued by parent company Worldspan Technologies Inc. and prepay and terminate sponsor advisory fees and dividends on Worldspan Technologies' class B common stock.

Any remaining proceeds will be used for general corporate purposes.

Worldspan is an Atlanta operator of computerized reservation systems.

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