Syniverse Technologies in-market with $244.2 million term loan

By Sara Rosenberg

New York, Sept. 14 - Syniverse Technologies Inc. is in-market with a new $244.2 million six-year term loan that is priced with an interest rate of Libor plus 300 basis points, according to a market source. Lehman Brothers is the sole lead bank on the deal.

The term loan launched Monday via a conference call.

Proceeds from the term loan are being used to take out the existing term loan that has about $200 million outstanding and carries an interest rate of Libor plus 350 basis points and to help finance the acquisition of EDS Interoperator Services North America for about $57 million in cash, the source said.

Syniverse is a Tampa, Fla.-based communications technology company.

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