Daily News: August 21, 2017

Credit Agricole Agents GCI Holdings Refi


Alaskan telecommunications company GCI amended its credit facility.

According to a related 8-K filing, Credit Agricole served as administrative agent for the transaction. MUFG Union Bank and SunTrust Bank were co-syndication agents. Bank of America served as documentation agent.

The amendment refinanced the $245.8 million term loan B with a new term loan B with the same principal amount and maturity date. The refinanced term loan B bears interest at either the alternate base rate or LIBOR (based on an interest period selected by the borrower of one month, two months, three months or six months) at the borrower’s election in each case plus a margin.

The credit agreement also includes a $215 million term loan A and a $200 million revolving credit facility, with a $50 million sub-limit for standby letters of credit, which were not refinanced.