GTT Communications to repay credit facility debt with note proceeds

By Sarah Lizee

Olympia, Wash., Sept. 25 – GTT Communications Inc. plans to repay debt under its credit facilities using proceeds from a new note offering, according to an 8-K filing with the Securities and Exchange Commission.

On Monday, the company announced that intends to offer $100 million of 7.875% senior notes due 2024 in a private offering.

Proceeds will also be used for general corporate purposes, including for working capital, capital expenditures and the financing of future acquisitions.

GTT Communications is a McLean, Va.-based cloud networking provider.

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