Syniverse Technologies Announces Plans to Raise $489 Million of Senior Secured Credit Facilities
25 June 2007 - 9:00PM
Business Wire
Syniverse Technologies (NYSE: SVR), a leading provider of
technology and business solutions for the global telecommunications
industry, today announced that it will raise $489 million of Senior
Secured Credit Facilities. The credit facilities are expected to
consist of a $42 million revolver, a $20 million Euro-denominated
revolver, a $297 million term loan and a $130 million
Euro-denominated term loan. Net proceeds from the credit facilities
will be used to fund the $290 million proposed acquisition of
Billing Services Group Limited�s Wireless Division (�BSG�) and
refinance Syniverse�s existing senior secured credit facilities.
Lehman Brothers Inc. and Deutsche Bank will act as Joint Lead
Arrangers and Joint Bookrunners for the syndication. About
Syniverse Syniverse Technologies (NYSE:SVR) solutions allow more
than 350 communications companies in over 50 countries to provide
seamless mobile services by making it possible for disparate
technologies and standards to interoperate. Syniverse's flexibility
and customer focus permit its customers to quickly react to market
changes and demands, enabling the delivery of everything from voice
calls to sophisticated data and video services wherever and
whenever subscribers need them. Celebrating its 20th anniversary in
2007, Syniverse is headquartered in Tampa, Florida, U.S.A., and has
offices in major cities around the globe. Syniverse is ISO
9001:2000 certified and TL 9000 approved, adhering to the
principles of customer focus and quality improvement practices.
More information is available at www.syniverse.com. About BSG BSG
is a leading global provider of data clearing, financial settlement
and risk management solutions for wireless and wireline
communication service providers, operating in two primary segments:
wireline and wireless. BSG Wireless is a provider of data clearing
and financial settlement services related to global and national
roaming for GSM wireless telecommunications providers. Shareholder
approval for the acquisition of BSG by Syniverse Technologies was
obtained on April 23, 2007. Cautions about Forward-Looking
Statements This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These include, but are not limited to, statements
regarding the Company's plans, intentions and expectations. Such
statements are inherently subject to a variety of risks and
uncertainties that could cause actual results to differ materially
from those projected. Given these concerns, investors and analysts
should not place undue reliance on forward-looking statements.
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