Managed hosting provider Savvis has secured a $550 million term loan and a $75 million revolving credit facility to spend in outstanding securities and a repayment of its revolving credit loan. The arrangements are led by Bank of America-Merrill Lynch and Morgan Stanly Senior Funding.
The domain sex.com will be put up for an auction with a minimum bid of $1 million (which is also a reserve price). It was acquired by Escom LLC four years ago for $14 million. The company has been in default on its loan for at least 12 months according to a Reuters report. The […]
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