Stratos Global to launch $150 million credit facility

By Sara Rosenberg

New York, Oct. 25 - Stratos Global Corp. is scheduled to hold a bank meeting Thursday to launch its proposed $150 million senior secured credit facility (Ba2/BB-), a company spokesman told Prospect News Monday.

Royal Bank of Canada and Bank of America are the lead banks on the deal.

The facility consists of a $25 million revolving credit facility and a $125 million term loan B, the spokesman said.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Stratos Global is a Bethesda, Md.-based remote communication solutions provider.

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