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Prospect News home > News index > List of issuers A > Headlines for Alaska Communications Systems Group Inc. > News item |
Alaska Communications Systems plans to host lender call Monday for $470 million credit facility
By Paul A. Harris
St. Louis, Oct. 1 - Alaska Communications Systems Group, Inc. will host a lender call on Monday for its $470 million senior secured credit facility (existing ratings Ba3/BB-), according to market sources.
The credit facility, which is being managed by J.P. Morgan Securities LLC, features a $440 million six-year term loan B and a $30 million revolver.
Proceeds will be used to refinance and extend the maturity of the company's existing $426 million term loans and $45 million revolver.
The revolving component of the existing facility matures Feb. 1, 2011, and the term loans under the existing facility mature Feb. 1, 2012.
Alaska Communications is an Anchorage-based provider of broadband and other wireline and wireless solutions across businesses and consumers.
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