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LanguageLine plans Monday meeting for $785 million credit facilities
By Paul A. Harris
Portland, Ore., April 16 - LanguageLine Solutions and Language Line LLC plan to participate in a bank meeting on Monday to discuss $785 million of credit facilities with lenders, according to a market source.
The deal includes a $515 million seven-year first-lien term loan with a 101 six-month soft call, a $220 million 7.5-year second-lien term loan with hard calls at 102 and 101, and a $50 million revolver.
Credit Suisse Securities (USA) LLC is the lead.
The Monterey, Calif.-based provider of language interpretation and translation services plans to use the proceeds to refinance debt and fund a dividend.
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