Language Line to offer $170 million eight-year notes to fund acquisition

By Paul A. Harris

St. Louis, May 12 - Language Line Inc. is expected to come to the high-yield market with an offering of $170 million of eight-year senior subordinated notes (Caa1/CCC+), according to market sources.

Timing remains to be determined; however, the launch is expected soon.

Merrill Lynch & Co. will run the books. Banc of America Securities will also have a role.

Those two banks are leading the company's $375 million credit facility.

Proceeds will be used to help fund Abry Partners LLC's acquisition of the company from Providence Equity Partners.

Language Line is a Monterey, Calif., provider of over-the-phone interpretation services.

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