The purchase price for Memorex Telex Communications AG is €90.5 million ($130 million), which includes the assumption of €60.2 million in debt and a cash payment in the amount of €30.3 million to the selling shareholders of Memorex for their 95.7% equity interest. Hungarian Telephone and Cable Corp will refinance a substantial portion of Memorex’s €60.2 million debt at closing. HTCC will fund the Memorex acquisition and the refinancing of the assumed Memorex debt with a subordinated bridge loan facility arranged by Merrill Lynch and BNP Paribas, which facility will rank ‘pari passu’ with HTCC’s existing €142 million 10.75% Senior Notes due 2012 and HTCC’s existing €200 million Floating Rate Senior Notes due 2013. HTCC intends to subsequently replace the bridge loan facility with longer term financing, the statement said. (press release)