GTT Communications forbearance agreements extended to Dec. 28

By Sarah Lizee

Olympia, Wash., Dec. 10 – GTT Communications, Inc. said that it received extensions under the forbearance agreements with holders of its 7 7/8% senior notes due 2024 and lenders under its revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The new expiration time for the forbearance agreements is 8 a.m. ET on Dec. 28.

The extension required consents from holders of more than 66.7% of the notes and a majority of the lenders under the credit agreement.

The company entered into the forbearance agreements on Oct. 28. GTT paid each forbearing noteholder a fee equal to $1.67 per $1,000 principal amount of notes.

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

© 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.