MetroPCS seeks loan amendment to push out maturity on term B debt

By Sara Rosenberg

New York, June 30 - MetroPCS Communications Inc. is looking to amend its credit facility to extend $800 million of term loan B debt by three years in return for higher pricing of Libor plus 350 basis points, according to sources.

Current pricing on the B loan is Libor plus 225 bps.

JPMorgan and Wells Fargo are the lead banks on the amendment, which was launched to investors late Tuesday.

Lenders are being offered a 10 bps amendment fee.

MetroPCS is a Dallas-based wireless communications service provider.

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