Jefferies, SunTrust syndicate Open Mobile $190 million credit facility

By Paul A. Harris

Portland, Ore., June 27 – Jefferies LLC and SunTrust Robinson Humphrey have completed the syndication of the Open Mobile $190 million senior secured refinancing, according to a market source.

The deal includes a $180 million Libor plus 900 basis points six-year term loan that priced at 98 with a 1% Libor floor. The loan is callable in one year at 104, with the call premium declining in annual steps to 103, 102, 101 and par.

The facility also includes a $10 million five-year revolver.

The lenders will receive warrants.

The borrower is a Guaynabo, Puerto Rico-based mobile network operator.

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