Alaska Communications seeks $250 million loan via JPMorgan

By Sara Rosenberg

New York, Aug. 7 - Alaska Communications Systems Holdings Inc. is seeking to obtain a new $250 million credit facility as part of a recapitalization plan. JPMorgan is the lead bank on the deal, according to sources.

The Anchorage, Alaska telecommunications company's facility will be comprised of a $200 million term loan and a $50 million revolver.

Proceeds from the facility, combined with proceeds from a $175 million notes offering, will be used to repay in full approximately $320.7 million in borrowings under the company's existing credit facility and finance general corporate needs.

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