Fixed-line telecoms and internet provider Hawaiian Telcom is planning a new credit facility to refinance and extend the maturity of an existing US$300m loan due 2015.
In a statement, the company’s CEO and president Erik Yeaman said: “The credit…
Fixed-line telecoms and internet provider Hawaiian Telcom is planning a new credit facility to refinance and extend the maturity of an existing US$300m loan due 2015.
In a statement, the company’s CEO and president Erik Yeaman said: “The credit markets appear to have improved and we believe conditions now are favorable for us to pursue refinancing of our existing credit facility under improved terms.”
Citing a person with knowledge of the deal, Bloomberg reported that Credit Suisse is arranging the transaction.
In a release, Standard & Poor’s said that Hawaiian Telcom was proposing a US$300m senior secured term loan due 2017 and gave it a B- rating.
“The modest maturity extension and anticipated lower interest rate resulting from this refinancing do not materially affect the company’s overall creditworthiness and existing ratings on Hawaiian Telcom are not affected by the transaction,” the ratings agency said.
