Market Overview

EarthLink Seeking Up to $300M Loan

EarthLink, Inc. (NASDAQ: ELNK) ("EarthLink" or the "Company") announced today that it is launching efforts to obtain a new secured credit facility consisting of up to a $300 million term loan and up to a $150 million revolving credit facility (the "New Facility").  The proceeds from borrowings under the New Facility would be used, together with existing cash, to repay the outstanding 10.5% Senior Secured Notes due 2016 of EarthLink's wholly owned subsidiary, ITC^DeltaCom, Inc. ("ITC^DeltaCom"), to replace the Company's existing $150 million revolving credit facility (which has no borrowings outstanding), and to pay related fees and expenses.  

Posted-In: News Guidance Financing

 

Related Articles (ELNK)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters