Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Madison River Capital LLC > News item |
Madison River to get $525 million credit facility with IPO
By Sara Rosenberg
New York, Dec. 23 - Madison River Communications Corp. plans to get a new $525 million credit facility in connection with its initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission Thursday.
The facility will consist of a $75 million six-year revolver and a $450 million seven-year term loan, the filing said.
Proceeds from the term loan and the IPO will be used to refinance existing debt, including credit facility debt and 13.25% senior notes.
The revolver, which is expected to be undrawn at closing, will be used for working capital and general corporate purposes.
Lehman Brothers, Merrill Lynch and Goldman Sachs are underwriting the IPO.
Madison River is a Mebane, N.C., operator of rural local telephone companies.
© 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.