DALLAS-PageMart Wireless Inc. announced it has obtained a new $100 million senior secured
credit facility through Bankers Trust Co. and Morgan Stanley Senior Funding Inc.
The new facility replaces the
company’s $50 million revolving credit facility. Proceeds will be used to fund capital expenditures and working capital
requirements and repay certain debts under a vendor financing arrangement, as well as for general corporate purposes,
the company said.
Initially, only $50 million will be available, with additional credit becoming available after
certain operating milestones are met.
