FiberNet amends loan to defer principal payments, modify some financial covenants

By Sara Rosenberg

New York, March 29 - FiberNet Telecom Group Inc. amended its credit facility, deferring until March 31, 2006 all payments of principal on outstanding loans and modifying covenants regarding minimum revenues and EBITDA amounts, capital expenditure amounts and required leverage and interest coverage ratios, according to a company news release.

Deutsche Bank is administrative agent on the loan.

The amendment was completed on March 22.

FiberNet is a New York-based company that deploys, owns and operates fiber-optic networks.

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