Gogo plans $825 million credit facilities for refinancing

By Sara Rosenberg

New York, April 7 – Gogo Inc. has received a commitment for $825 million of senior secured credit facilities, according to an 8-K recently filed with the Securities and Exchange Commission.

Morgan Stanley Senior Funding Inc., Credit Suisse and Deutsche Bank provided the commitment.

The facilities consist of a $100 million five-year revolver and a $725 million seven-year term loan.

Proceeds will be used with cash on hand to repay 9.875% secured notes and to refinance and terminate an existing asset-based revolver.

Gogo is a Chicago-based provider of broadband connectivity services for the business aviation market.

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