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.
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.
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.
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.