GCI gets another $25 million add-on term loan for revolver paydown

By Susanna Moon

Chicago, July 26 - GCI Inc. wholly owned subsidiary GCI Holdings, Inc. closed another $25 million add-on term loan on Friday with Credit Agricole Corporate and Investment Bank as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Interest will initially be Libor plus 250 basis points.

Proceeds will be used for general corporate purposes and to pay down revolving loans under the credit agreement, which will boost availability under the revolver, the filing noted.

The company tacked on an additional $25 million term loan on June 10, according to a previous filing.

Credit Agricole was formerly Calyon New York Branch.

The company is an Anchorage-based provider of a range of communications services.

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