BERWYN, Pa.-Former AT&T Wireless Services Inc. affiliate Triton PCS Inc. reported that it intends to enter into a $250 million senior secured term loan facility that will replace its existing $100 million senior secured revolving credit facility. The carrier said it plans to use proceeds from the new facility for general corporate purposes, possible acquisitions and to retire certain outstanding debt securities though open market purchases and privately negotiated transactions.
Triton PCS, which gained its freedom from AWS through a market and spectrum swap deal with Cingular Wireless L.L.C. following Cingular’s acquisition of AWS, announced plans to acquire Urban Comm-North Carolina Inc. for $113 million in cash. Urban Comm, which is currently operating under Chapter 11 bankruptcy protection, controls 20 spectrum licenses covering 7.4 million potential customers spread across North Carolina, South Carolina and Virginia.
