Windstream Holdings II, completed a $250 million super senior incremental term loan as well as a refinancing of its existing revolver that will extend the revolver maturity to 2027 from 2024.

In conjunction with the two transactions, the company’s existing term loan is being transitioned from a London Interbank Offered Rate (LIBOR)-based interest calculation to a Secured Overnight Financing Rate (SOFR)-based interest calculation.

As part of the transactions, the company is paying down its outstanding revolver balance of approximately $115 million as of Sept. 30, and the amended revolver will have $500 million of capacity through September 2024 and $475 million of capacity through January 2027.

“The new term loan and revolver extension will enable us to fully-fund our public-private partnerships and deliver gigabit broadband to consumers and small businesses in rural areas across our 18-state Kinetic region,” Drew Smith, chief financial officer and treasurer at Windstream, said. “These refinancing efforts provide Windstream a clear runway to execute our business plan, with no near-term debt maturities.”