US fibre operator Integra Telecom has closed its new US$845m senior secured credit facilities.
In a statement it said that the credit facilities include a US$60m revolving credit facility, a US$585m first lien term loan due 2019 and a US$200m second…
US fibre operator Integra Telecom has closed its new US$845m senior secured credit facilities.
In a statement it said that the credit facilities include a US$60m revolving credit facility, a US$585m first lien term loan due 2019 and a US$200m second lien term loan due 2020.
The Oregon-based company said the net proceeds from the facilities were used to refinance its outstanding term loan and bonds, including the redemption and tender premiums.
TelecomFinance understands that BofA Merrill Lynch and Morgan Stanley arranged the transaction. BofA Merrill Lynch was left lead on the first-lien term loan, while Morgan Stanley was left lead on the second-lien.
Moody’s previously said that the net proceeds will be used to refinance Integra’s existing senior secured term loan and US$475m of 10.75% senior secured notes.
Integra offers enterprise services in 35 metropolitan markets, predominantly in western states.
It has a 5,000-mile long-haul fibre-optic network, 3,000 miles of metropolitan fibre, and a nationwide IP/MPLS network.
In Integra’s 2011 annual report it disclosed net revenues of US$599.8m.
