Metrocall amends credit facility as part of work on prepackaged Chapter 11

By Sara Rosenberg

New York, May 1 - Metrocall Inc. entered into a fourth amendment to its fifth amended and restated credit agreement. The amendment states that none of the secured lenders may "assign, participate or transfer" any of their rights or interests under the credit agreement without written consent by secured lender holding 51% of the total commitment, according to a company press release.

The Alexandria, Va. wireless data and messaging company previously announced in a 10-K filing on April 12 that it is involved in ongoing discussions with lenders and holders of subordinated notes to reach a consensus on terms of a pre-negotiated plan of reorganization to be implemented through a Chapter 11 filing, the release said. The company anticipates a pre-negotiated reorganization filing towards the end of May.

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