BankAmerica Corp. and four other banks are set to begin syndication today of a $600 million senior bank loan for Northern Telecom.

The loan, to be launched at a bank meeting in Kansas City, Mo., is equally underwritten by BankAmerica, Bank of Nova Scotia, Barclays de Zoete Wedd, J.P. Morgan & Co., and Royal Bank of Canada. It is part of a $1.2 billion vendor financing that will help Northern Telecom provide equipment for Sprint Spectrum, the closely watched wireless communications joint venture of Sprint Corp., Cox Communications, Comcast Cable, and Telecommunications Inc.

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