Metrocall/Arch Wireless $140 million term loan to launch Thursday

By Sara Rosenberg

New York, Oct. 12 - Metrocall Inc./Arch Wireless Operating is scheduled to hold a bank meeting on Thursday to launch a proposed $140 million two-year senior secured term loan talked at Libor plus 250 basis points, according to a market source. UBS is the sole lead bank on the deal.

Proceeds will be used to partially fund the $150 million cash portion of the consideration that Metrocall stockholders will receive in the proposed merger between Metrocall Holdings Inc. and Arch Wireless Inc.

The facility will be guaranteed by USA Mobility Inc., the corporate entity formed to serve as the new publicly traded parent company of Metrocall and Arch following completion of the merger.

Metrocall is an Alexandria, Va.-based provider of paging products and other wireless services. Arch is a Westborough, Mass.-based wireless messaging and mobile information company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.