LICT closed on a five-year, $100 million revolving credit facility with CoBank. In addition to extending the term of the revolving credit facility through 2029 and enlarging the facility from $50 million to $100 million, the new loan facility provides an improved covenant structure and greater flexibility to meet capital expenditures.
“CoBank has been a terrific partner to LICT for many years,” Stephen J. Moore, vice president, finance of LICT, said. “Their industry knowledge and strong understanding of our business operations allowed them to structure a transaction that provides LICT with an attractive financing alternative.”
“CoBank is pleased that LICT selected CoBank for this transaction, which provides important financial benefits for the company and supports the management team’s continued focus on achieving strategic objectives and delivering solid operating results,” Hunter Hook, managing director at CoBank, said.
