Company News Summary | 16 May 2018
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Speedcast International Announces US$425M TLB Refinancing Arrangements Completed
15:25:00 | Associate analysts
Original annuncemenet:US$425M TLB Refinancing arrangements completed
Speedcast International announced the completion of its US$425m Senior Secured Credit Facility and of its new 5-year US$100m Senior Secured Revolving Credit Facility. The Company's previous bank loans, which included a 3-year US$425m Senior Secured Bank Loan and a US$20m Senior Secured Revolving Credit Facility, were concurrently repaid and cancelled. With this new financing in place the Company benefits from an extended maturity profile, lower cost of debt and improved operational flexibility.
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