Atlantic Tele-Network (ATNI) Amends Existing $375 Million Credit Facility
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Atlantic Tele-Network, Inc. (NASDAQ: ATNI) has amended and restated its existing $375 million senior secured credit facility, which consists of a $125 million and a $150 million term loan and a $100 million revolving credit facility. The amendments to the credit facility extended the final maturities of the $125 million term loan and the revolving credit facility to June 30, 2017 and the $150 million term loan to June 30, 2019.
The amendments also reduced the applicable interest rate margins on borrowings under the Company’s $125 million term loan and revolver loan by 75 basis points and by 25 basis points on borrowings under its $150 term loan. CoBank, ACB acted as Administrative Agent and Lead Arranger, along with Fifth Third Bank, as Joint Lead Arranger in the transaction.
The amendments also reduced the applicable interest rate margins on borrowings under the Company’s $125 million term loan and revolver loan by 75 basis points and by 25 basis points on borrowings under its $150 term loan. CoBank, ACB acted as Administrative Agent and Lead Arranger, along with Fifth Third Bank, as Joint Lead Arranger in the transaction.
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