Alaska Communications plans new debt for buyout by Macquarie, GCM

By Sara Rosenberg

New York, Nov. 3 – Alaska Communications Systems Group Inc. has received a commitment for debt financing to help fund its acquisition by Macquarie Capital and GCM Grosvenor, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

ING Bank, Societe Generale, Sumitomo Mitsui Banking Corp. and MUFG provided the debt commitment.

Other funds for the buyout will come from equity.

Under the agreement, the company is being bought for $3.00 per share in cash. The transaction is valued at about $300 million, including debt.

Closing is expected in the second half of 2021, subject to the approval of Alaska Communications’ stockholders, regulatory approvals and other customary conditions.

There is a 30-day go-shop period.

Alaska Communications is an Anchorage-based provider of advanced broadband and managed IT services for businesses and consumers in Alaska.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.