GCI Holdings obtains $25 million add-on term loan via Credit Agricole, plans revolver paydown

By Jennifer Chiou

New York, June 14 - GCI Inc. wholly owned subsidiary GCI Holdings, Inc. entered into on Friday an add-on term loan supplement with Credit Agricole Corporate and Investment Bank (formerly Calyon New York Branch) to tack on an additional $25 million term loan, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds are earmarked for the repayment of the company's revolving loans.

The Anchorage-based provider of a range of communications services said that the term loan has an initial interest rate of Libor plus 250 basis points.

© 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.