Correction: Alcatel credit facility bank meetings set for Jan. 7 week

By Sara Rosenberg

New York, Dec. 17 - Alcatel-Lucent will be holding a bank meeting on Jan. 8 in London and on Jan. 9 in New York to launch its €1,615,000,000 equivalent credit facility.

The meeting that took place in London on Friday and the one that took place in New York on Monday were for pre-marketing of the transaction.

Pre-marketing commitments are due on Dec. 21.

The facility consists of a $500 million 31/2-year term loan talked at Libor plus 600 basis points with a 1.25% Libor floor, a $1,275,000,000 six-year term loan talked at Libor plus 700 bps with a 1.25% Libor floor and a €250 million six-year term loan talked at Euribor plus 700 bps with a 1.25% floor.

All tranches are being offered at an original issue of 98.

The 31/2-year term loan has 101 soft call protection for one year, and the six year loans are non-callable for one year, then at 102 in year two and 101 in year three.

Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are leading the deal that will be used to refinance existing debt and for general corporate purposes.

Alcatel is a Paris-based telecommunications services and equipment company.

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