Bloomberg News

Cellular South Seeks $800 Million in Loans to Refinance Debt

June 16, 2011

June 16 (Bloomberg) -- Cellular South Inc., a wireless communication provider, is seeking $800 million in loans to refinance debt.

The financing will include a $600 million term loan B and a $200 million revolving line of credit, according to data compiled by Bloomberg.

Bank of America Corp. is arranging the deal, the data show. Cellular South will meet with lenders June 20 at 2:00 p.m. New York time.

The company is offering lenders one-year soft call protection of 101 cents on the term loan B, meaning the company would have to pay 1 cent more than face value to refinance the debt during its first year, according to the data.

To contact the reporter on this story: Richard Bravo in New York at rbravo5@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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