Savvis senior secured credit facility expected as July business

By Sara Rosenberg

New York, July 6 - Savvis Inc.'s proposed senior secured credit facility is anticipated to launch with a bank meeting sometime this month, according to a market source.

Bank of America is the left lead bank on the deal.

Details on the structure of the facility are not yet available, the source said.

Proceeds will be used to refinance existing debt and fund the purchase of the company's $345 million of 3% convertible senior notes.

The tender offer for the convertibles expires on July 29.

Savvis is a Town & Country, Mo.-based provider of cloud infrastructure and hosted IT services.

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