Centennial seeks loan amendment for bond sale, dividend payment

By Sara Rosenberg

New York, Dec. 12 - Centennial Communications Inc. is in the process of amending its senior secured facility to allow for the issuance of about $550 million of senior notes and the payment of an about $577 million special cash dividend to stockholders, according to a company news release.

In addition to the dividend, the company plans to prepay $39.5 million of borrowings under its credit facility using proceeds from the proposed bond offering and cash on hand.

Centennial is a Wall, N.J., provider of regional wireless and integrated communications services.

© 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.