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Language Line starts roadshow for $170 million eight-year notes
By Paul A. Harris
St. Louis, May 17 - Language Line Inc. started a roadshow Monday for a $170 million offering of eight-year senior notes (Caa1/CCC+), according to a market source.
The deal is expected to price on May 25 or May 26.
Merrill Lynch & Co and Banc of America Securities are the underwriters.
The company is also obtaining a $375 million credit facility.
Proceeds will be used to help fund Abry Partners LLC's acquisition of the company from Providence Equity Partners.
The company is a Monterey, Calif., provider of over-the-phone interpretation services.
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