US ISP and telco Windstream has obtained its lenders’ consent to amend and restate its existing senior secured credit facilities.
The Nasdaq listed telco wants to use the senior secured facilities so it can incur up to US$900m of additional term loans…
US ISP and telco Windstream has obtained its lenders’ consent to amend and restate its existing senior secured credit facilities.
The Nasdaq listed telco wants to use the senior secured facilities so it can incur up to US$900m of additional term loans which will be used to repay a revolver.
Windstream says the additional term loans create sufficient liquidity to refinance debt maturing in 2013 without the need to raise further incremental capital.
It will also use the facilities for general corporate purposes.
JP Morgan is the lead arranger, according to a company spokesperson.
Windstream says it has more than US$6bn in annual revenue and US$8.7bn of debt with a Moody’s rating of Ba2 stable, an S&P rating of BB- stable and a Fitch rating of BB+ stable.
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