CapRock Communications $255 million credit facility to launch Wednesday

By Sara Rosenberg

New York, April 5 - CapRock Communications is scheduled to hold a bank meeting on Wednesday to launch its proposed $255 million credit facility, according to a syndicate document.

Credit Suisse is the lead arranger on the deal.

The facility consists of a $40 million five-year revolver talked at Libor plus 300 basis points with a 50 bps commitment fee, a $150 million five-year term loan B talked at Libor plus 300 bps and a $65 million six-year second-lien term loan talked at Libor plus 650 bps, the document said.

Proceeds will be used for acquisition financing.

CapRock is a Houston-based satellite communications provider to extreme and remote locations.

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