Wachovia Securities and J.P. Morgan flexed pricing up 25 basis points to LIBOR plus 3% on Western Wireless' seven-year, $1 billion "B" loan. The deal also includes a six-year, $300 million revolver and six-year, $200 million "A" loan at LIBOR plus 2 1/4%. "We've avoided [the company] in the past. But the fact that it is going to take care of some near term maturities, we are going to give it a hard look," one loan investor said. The deal hit the market April 14. Company officials and bankers at Wachovia and J.P. Morgan did not return calls.
Western Wireless Coupon Rises