Credit Suisse First Boston and Lehman Brothers are set to launch syndication of a $200 million refinancing for Mobile Storage Group tomorrow. The loan, which consists of a $60 million, five-year revolver and a $140 million, seven-year "B" is priced at LIBOR plus 2 1/2% and LIBOR plus 3%, respectively. There is also a 50 basis points commitment fee on the revolver. CSFB is the administration agent and Lehman is the syndication agent on the loan. Union Bank of California is the documentation agent. Expected ratings on the debt are Ba3/BB. Calls to company and bank officials were not returned.
CSFB, Lehman, Launch Mobile Redux