KIRKLAND, Wash.-Nextel Partners Inc. reported that its Nextel Partners Operating Corp. subsidiary is launching a $475 million senior secured credit facility that the company said would be used to repay borrowing under Nextel Partners’ existing $475 million senior secured credit facility and general corporate purposes.
The credit facility consists of a $100 million, six-year revolving credit facility maturing in 2009 and a $375 million, seven-year term loan maturing in 2010. Nextel Partners added it has received commitments from a number of lenders led by J.P. Morgan Securities Inc. and Morgan Stanley Senior Funding Inc. for the $100 million revolving credit commitment.