Daily News: February 21, 2018

CoBank Amends ShenTel Credit Agreement


According to an 8-K filing, Virginia-based Shenandoah Telecommunications (ShenTel) amended its credit agreement, with CoBank serving as administrative agent.

The amendment modified the credit agreement by reducing, by 50 basis points, the applicable margin for interest to be paid by ShenTel on term loans A-1 and A-2. It also allowed the company to make charitable contributions of up to $1.5 million in any fiscal year to the Shentel Foundation, a Virginia non-stock corporation.

CoBank, the other lenders and their affiliates may in the future perform investment banking, financial advisory, lending or commercial banking services for ShenTel and its subsidiaries, as they have in the past. Any such services would receive customary compensation and expense reimbursement.