US ISP and telco Windstream is looking to get consent from lenders to amend its senior secured credit facilities, which would allow it to raise a further US$280m in loans.
Windstream said that the amendment would also enable it to extend the maturity of…
US ISP and telco Windstream is looking to get consent from lenders to amend its senior secured credit facilities, which would allow it to raise a further US$280m in loans.
Windstream said that the amendment would also enable it to extend the maturity of certain existing loans. The new loans would be used to partially repay the credit facility revolver.
Windstream expects to complete the amendment and restatement of the credit facility in February. This is subject to receiving the required consents and other customary conditions.
According to a Standard & Poor’s release, the change would result in an extension of the maturity of the A-2 tranche of Windstream’s US$2.8bn credit facility. It would also see the creation of a new A-3 tranche, made up of a US$280m term loan.
The ratings agency gave the new loan a BB+ rating.
