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Otelco amends loan, lowering pricing
By Sara Rosenberg
New York, July 13 - Otelco Inc. amended its credit facility on Friday, reducing pricing to Libor plus 175 basis points from Libor plus 325 bps, according to an 8-K filed with the Securities and Exchange Commission.
In addition the amendment, the company must maintain a consolidated senior leverage ratio of not more than 3.00 to 1.00.
General Electric Capital Corp. is the agent on the deal.
Otelco is an Oneonta, Ala., wireline telephone services provider in rural communities.
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