BankAmerica Arranges $160 Million Financing for Omnipoint.SAN FRANCISCO--(BUSINESS WIRE)--July 10, 1998--BankAmerica arranged and solely underwrote a $160 million syndicated senior bank facility for Omnipoint Corporation. This is the first Euromarket bank deal for a U.S. PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. operator. The financing is partially guaranteed by Exportkreditnamnden (EKN EKN Elkins, West Virginia (airport code) EKN Ereignisknoten-Netzplan (German) ), Sweden's export credit agency Export Credit Agency An agency established by a country to finance its nation's goods, investment, and services, often offers political risk insurance. , and is EKN's first telecommunications deal in the United States. The facility supports the purchase of Ericsson equipment for Omnipoint's Boston and Miami markets and comprises a tranche of a larger vendor finance facility provided by Ericsson. "We're pleased to put our global network and our global telecom expertise to work arranging a financing for Omnipoint, a leading U.S. communications company," said Don Bush, managing director at BankAmerica and leader of the Omnipoint client team. BankAmerica has arranged two other financings thus far in 1998 for Omnipoint. It acted as co-manager for a $325 million convertible preferred equity offering and as Administrative Agent for a $750 million senior debt facility for Omnipoint's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of market. Omnipoint currently provides advanced wireless communications services in much of New York, New Jersey, Connecticut, Eastern Pennsylvania, Delaware, Massachusetts, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. and Southern Florida. The company also develops technology and equipment for PCS wireless local loop. Ericsson's 100,000 employees are active in more than 130 countries. Their combined expertise in fixed and mobile networks, mobile phones, and infocom systems makes Ericsson a world-leading supplier in telecommunications. Supported by a network of offices spanning the globe, BankAmerica focuses on meeting the diverse capital market, credit and financial management needs of public and privately held businesses around the world.
CONTACT: Bank of America
Susan Stanley, 415/622-4449
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