Atlantic Tele-Network Amends Credit Facility
Atlantic Tele-Network, Inc. (NASDAQ: ATNI), announced today that it has amended and restated its existing $375 million senior secured credit facility, which consists of a $125 million and a $150 million term loan and a $100 million revolving credit facility. The amendments to the credit facility extended the final maturities of the $125 million term loan and the revolving credit facility to June 30, 2017 and the $150 million term loan to June 30, 2019. The amendments also reduced the applicable interest rate margins on borrowings under the Company's $125 million term loan and revolver loan by 75 basis points and by 25 basis points on borrowings under its $150 term loan. CoBank, ACB acted as Administrative Agent and Lead Arranger, along with Fifth Third Bank, as Joint Lead Arranger in the transaction.
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