Integra Closes New Senior Secured Credit Facilities
PORTLAND, OR, Feb 25, 2013 (MARKETWIRE via COMTEX) --
Integra Telecom Inc., a provider of fiber-based, enterprise-grade
networking, communications and technology solutions, has closed its
new $845 million senior secured credit facilities. The credit
facilities include a $60 million revolving credit facility (undrawn
at closing), a $585 million first lien term loan due 2019 and a $200
million second lien term loan due 2020. The net proceeds from the new
credit facilities were used to refinance Integra's previously
outstanding term loan and bonds, including the redemption and tender
premiums thereon, and for general corporate purposes.
In connection with the financing, Standard & Poor's Rating Service
affirmed Integra's corporate family rating of B and revised its
outlook to stable from negative, while Moody's Investors Service
affirmed its B3 rating and revised its outlook to positive from
stable. The new credit facilities will lower the Company's annual
cash interest expense by approximately $19 million and provide strong
financial flexibility for the continued execution of the Company's
About Integra Telecom
Integra is one of the largest facilities-based providers of
communication and networking services in the western United States.
We connect businesses of all sizes with advanced networking,
communications and technology solutions in 35 metropolitan markets.
Integra owns and operates an enterprise-class network consisting of a
5,000-mile long-haul fiber-optic network, 3,000-miles of metropolitan
fiber and a nationwide IP/MPLS network. Our fiber network connects
directly to more than 2,200 enterprise buildings and data centers.
Through our expansive Ethernet-over-copper footprint, we can deliver
high-bandwidth services to more than 400,000 businesses. At Integra,
we understand our customers need reliable, secure and flexible
solutions delivered with unmatched expertise and quality of service.
For more information, visit www.integratelecom.com.
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