Caribe Information $165 million credit facility to launch Thursday

By Sara Rosenberg

New York, March 1 - Caribe Information Investment Inc. is scheduled to hold a bank meeting on Thursday to launch its proposed $165 million credit facility, according to a market source.

Lehman and Bank of America are joint lead arrangers and joint bookrunners on the deal, with Lehman the left lead. Wachovia is documentation agent.

The facility consists of a $155 million seven-year term loan and a $10 million revolver, the source said.

Proceeds will be used to help fund Welsh, Carson, Anderson & Stowe's buyout of Caribe from Verizon and Puerto Rico Telephone Co.

Caribe owns interests in directories in Puerto Rico and the Dominican Republic.

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