According to an official statement, Language Line Holdings, Inc., a Monterey, CA-based provider of language-based services, intends to pursue financing options to reduce its overall cost of capital.
The company announced that “it intends to engage in discussions with lenders, including those under its existing credit facility”, but that “has not received any firm commitments at this time and there can be no assurance that financing commitments will be obtained”.
Language Line Holdings delivers a suite of solutions spanning translation, transcription, phone and video interpretation, interpreter certification, localization and localized software and devices, enabling clients to communicate with customers in their preferred language. It provides support for more than 170 languages to its portfolio of clients across markets including health care, financial services, government, telecom, manufacturing, insurance, entertainment, travel, and more.
According to the statement, “the Company does not intend to provide updates or make any further comment until the outcome of the process is determined or until there are significant developments”.