Cricket Communications to launch $400 million term loan on Thursday

By Sara Rosenberg

New York, Sept. 24 - Cricket Communications Inc. is set to hold a bank meeting on Thursday to launch a $400 million term loan, according to sources.

Deutsche Bank Securities Inc., UBS Securities LLC and Bank of America Merrill Lynch are the lead banks on the deal.

Proceeds will be used to refinance $300 million of outstanding 10% senior notes due 2015 and for general corporate purposes.

Closing is expected to take place in October.

Cricket is a subsidiary of Leap Wireless International Inc., a San Diego-based provider of digital wireless services.

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