Language Line, LLC and Coto Acquisition LLC Enter into Senior Secured Credit Agreement
Language Line, LLC and Coto Acquisition LLC Enter into Senior Secured Credit
Agreement
MONTEREY, Calif., Nov. 4 /PRNewswire/ -- Language Line, LLC and Coto
Acquisition LLC (the "Borrowers") entered into a Senior Secured Credit
Agreement (the "Agreement") among the Borrowers, Language Line Holdings LLC
("Holdings"), the subsidiary guarantors party thereto, the lenders party
thereto, Bank of America, N.A. as administrative agent, Morgan Stanley Senior
Funding, Inc. as documentation agent, and Credit Suisse Securities (USA) LLC
as syndication agent.
The Agreement allows for the repayment or redemption of Language Line Inc.'s
Credit Agreement dated June 11, 2004 as amended and restated on November 14,
2006, Language Line Inc.'s Senior Subordinated Notes due 2012, Language Line
Holdings, Inc. Senior Discount Notes due 2013, Language Line Limited Services
UK II Limited Senior Credit Facility, Language Line Limited Services II
Mezzanine Facility, Coto Holdings LLC Credit Agreement dated January 10, 2008,
and Coto Holdings LLC issued and outstanding Preferred Stock.
Under the Agreement, the lenders have extended credit to the Borrowers in the
form of Term Loans in the initial aggregate amount of $525,000,000 and
Revolving Credit Commitments in an initial aggregate amount of $50,000,000.
Contact:
Michael Schmidt
mschmidt@languageline.com
This release was issued through eReleases(TM). For more information, visit
http://www.ereleases.com.
SOURCE Language Line, LLC
Michael Schmidt of Language Line, LLC, +1-831-648-7436,
mschmidt@languageline.com
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