Alaska Communications announces plans to refinance 5.25% convertibles

By Angela McDaniels

Tacoma, Wash., Feb. 28 - Alaska Communications Systems Group, Inc. plans to access the capital markets to raise new debt to pay down its 5.75% convertible notes due 2013, according to the company's 10-K report for 2010 filed with the Securities and Exchange Commission.

The company's senior secured credit facility requires it to repay or refinance $100 million of the convertibles before Dec. 19, 2012.

As of Dec. 31, $112.4 million principal amount of convertibles was outstanding.

Alaska Communications is an Anchorage-based provider of broadband and other wireline and wireless services.

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