CoBank Provides New $92MM Facility to Otelco

Wireless communication provider Otelco refinanced its long-term debt with CoBank as administrative agent. The new facility includes a $87 million term loan and a $5 million revolver.

Cerberus Agents New $105MM Facility for Otelco

Wireline telecom service provider Otelco has executed a new $105 million credit facility with a lender group led by Cerberus Business Finance as administrative agent.

Cereberus Business Closes New $105MM Facility For Otelco

Otelco has closed a new $105 million credit facility with Cerebus Business Finance. Piper Jaffray served as the exclusive financial advisor and lead placement agent.

Otelco Files Bankruptcy; Owes GE Capital Led Group $162MM

Local exchange carrier Otelco filed for bankruptcy protection in Delaware, after losing a contract with Time Warner. Court documents show GE Capital is agent for secured term facility with $162 million currently outstanding.