Edition:
United Kingdom

Alaska Communications Established A Single Term Loan Of $180 Mln With A Reduced Interest Rate Of Libor + 450 Basis Points


Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - Alaska Communications Systems Group Inc ::ALASKA COMMUNICATIONS STRENGTHENS ITS LIQUIDITY AND FINANCIAL FLEXIBILITY, WHILE REDUCING BORROWING RATES, WITH REFINANCING OF ITS DEBT.ALASKA COMMUNICATIONS SYSTEMS GROUP INC - ESTABLISHED A SINGLE TERM LOAN OF $180 MILLION WITH A REDUCED INTEREST RATE OF LIBOR + 450 BASIS POINTS (BPS).ALASKA COMMUNICATIONS SYSTEMS - INCREASED REVOLVING CREDIT FACILITY TO $20 MILLION AT LIBOR + 450 BPS FROM $15 MILLION AT LIBOR + 500 BPS.ALASKA COMMUNICATIONS - SECURED A NEW DELAYED DRAW TERM LOAN ("DDTL") OF $25 MILLION AT LIBOR + 450 BPS, WHICH IS AVAILABLE FOR A PERIOD OF 24 MONTHS.ALASKA COMMUNICATIONS SYSTEMS - AT CLOSE OF REFINANCING, NET TOTAL DEBT AVAILABLE TO CO WILL BE $225 MILLION, WITH $180 MILLION DRAWN.ALASKA COMMUNICATIONS SYSTEMS - REFINANCING DEAL INCLUDES RETIRING HIGH COST A2 TRANCHE WHILE FAVORABLY REPRICING NEW TERM LOAN COMPARED TO A1 TRANCHE. 

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