Alaska Communications entered into $100 million of senior secured financing, including a $10 million revolving loan. Alaska Communications used proceeds to pay off its outstanding $80 million term loan, fund fees and expenses associated with the refinancing, and for corporate purposes.
CoBank and ING Capital served as the lead arrangers on the financing.
“We have taken full advantage of a suitable financing window in the credit markets. The cost of the facility is similar to our current facility, which was scheduled to mature next year. With this financing, we now have no debt maturing sooner than 2018. We are also pleased to be working with a group of lenders who can support our business over the long term,” Alaska Communications CFO Wayne Graham said.