Hawaiian Telcom to Refinance Existing $300M Senior Secured Credit Facility
Hawaiian Telcom Holdco, Inc. (NASDAQ: HCOM) today announced plans to seek to refinance its existing $300 million senior secured credit facility. The proposed amended and restated credit facility would be used to refinance and extend the maturity of the Company's existing $300 million term loan, which matures February 28, 2017.
"The credit markets have improved and we believe conditions are again favorable for us to pursue refinancing of our existing credit facility under improved terms," said Eric K. Yeaman, Hawaiian Telcom's president and CEO. "In addition, we believe our full year 2012 and first quarter 2013 financial results demonstrate continued progress in executing our strategic plan and support seeking a refinancing at this time," concluded Yeaman.
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