US telco Atlantic Tele-Network has extended its US$375m senior secured credit facility, which consists of two term loans of US$125m and US$150m, and a US$100m revolving credit facility.
The amendments to the credit facility extended the final…
US telco Atlantic Tele-Network has extended its US$375m senior secured credit facility, which consists of two term loans of US$125m and US$150m, and a US$100m revolving credit facility.
The amendments to the credit facility extended the final maturities of the US$125m term loan and the revolving credit facility to 30 June 2017 and the US$150m term loan to 30 June 2019. The amendments also reduce the applicable interest rate margins on borrowings under ATN’s US$125m term loan and revolver loan by 75 basis points and by 25 basis points on borrowings under its US$150m term loan. CoBank was lead arranger with Fifth Third Bank acting as joint lead arranger in the transaction.
ATN plans to use the proceeds from the credit facility for working capital expenses, capital expenditures, and other corporate purposes.
ATN is the parent of wireless operator Alltel and owns a variety of other telecoms assets, including telcos in the Caribbean.
