Leap Wireless has closed a new US$400m senior secured term loan facility for its subsidiary Cricket Communications.
The loan, launched in late September, carries interest of either Libor plus 3.5% or at the bank base rate plus 2.5, as selected by…
Leap Wireless has closed a new US$400m senior secured term loan facility for its subsidiary Cricket Communications.
The loan, launched in late September, carries interest of either Libor plus 3.5% or at the bank base rate plus 2.5, as selected by Cricket and subject to terms.
Deutsche Bank, BofA Merrill Lynch and UBS were the joint lead arrangers and bookrunners. Bank of Americawas syndication agent.
The proceeds will largely be used to refinance Cricket’s US$300m of outstanding 10% senior notes dues 2015.
In its Q2 results Leap said it had no debt maturities until 2014 and revealed net debt of US$2.78bn.
