Syniverse gets new $240 million term loan, $42 million revolver

By Ted A. Knutson

Washington, Feb. 18 - Syniverse Technologies Inc. said it signed off on a new $282 million bank loan package.

The credit agreement provides for a term loan of $240 million maturing Feb. 15, 2012 and a $42 million revolving credit facility maturing on Feb. 15, 2011. Interest, at the company's choosing, is either a base rate or Libor plus 200 points.

Lehman Brothers Inc. is the lead arranger and book manager with LaSalle Bank NA as syndication agent and Lehman Commercial Paper as administrative agent.

Proceeds from the loans were used to refinance the company's previous senior credit facility and to pay for a tender offer for a portion of its 12¾% senior subordinated notes.

Tampa, Fla.-based Syniverse, which offers services to mobile telecommunications carriers, made the announcement in an 8-K filing with the Securities and Exchange Commission.

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