Hawaiian Telcom Announces Refinancing Plans to its $300M Senior Secured Credit Facility
Hawaiian Telcom Holdco, Inc. (Nasdaq: HCOM) today announced plans to seek refinancing of its existing $300 million senior secured credit facility. The proposed new credit facility would be used to refinance and extend the maturity of the Company's existing $300 million term loan, which matures October 28, 2015.
"The credit markets appear to have improved and we believe conditions now are 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 unaudited 2011 fourth quarter results support seeking a refinancing at this time. Our preliminary unaudited fourth quarter results are in line with our expectations, showing revenue improvement over the prior quarter as well as margin improvement," Yeaman added.
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