Sorenson to launch $215 million holdco loan on Wednesday

By Sara Rosenberg

New York, June 24 - Sorenson Communications Inc. is scheduled to hold a conference call on Wednesday afternoon to launch its proposed $215 million holdco PIK loan, according to a market source.

Goldman Sachs and Morgan Stanley are the lead banks on the deal, with Goldman the left lead.

Price talk on the loan is expected to emerge on the call, the source said.

Proceeds will be used to fund a dividend to sponsors.

Sorenson is a Salt Lake City-based provider of video relay services and equipment for the deaf and hard-of-hearing community.

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