Emerging Markets Communications seeks $130 million credit facility

By Sara Rosenberg

New York, April 17 - Emerging Markets Communications LLC is in market with a $130 million six-year credit facility that will be used to refinance existing debt, according to a market source.

SunTrust Robinson Humphrey Inc., RBS Citizens and CapitalSource are leading the deal that launched with a bank meeting on Tuesday.

The facility consists of a $25 million revolver talked at Libor plus 425 basis points and a $105 million term loan talked at Libor plus 450 bps with a 1% Libor floor and an original issue discount of 99, the source said.

The term loan has 101 soft call protection for six months and amortization of 0% in year one, 2.5% in year two, 5% in year three, 7.5% in year four, 10% in year five and 15% in year six, with the remainder due at maturity.

Emerging Markets Communications is a Miami-based provider of hybrid global satellite and terrestrial communications.

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