Small US wireless player NTelos has refinanced its existing term loans, converting them into term B loans while also raising an additional US$40m.
The new borrowing will be used for general corporate purposes and bear the same interest rate and terms as…
Small US wireless player NTelos has refinanced its existing term loans, converting them into term B loans while also raising an additional US$40m.
The new borrowing will be used for general corporate purposes and bear the same interest rate and terms as the existing term B loans signed in November 2012.
“Favourable market conditions and strong demand enabled NTelos to refinance its debt and to upsize the offering. With the refinancing, the company extended the maturity of its aggregate US$533.8m in debt to 9 November 2019, further increasing its financial flexibility,” the Virginia-based telco said.
In October last year, NTelos and DTH broadcaster Dish announced a joint wireless broadband trial. That test will take place in four cities in Virginia and is targeting an early 2014 rollout.
