Business
ATN International Completes Renewal and Expansion of Credit Facilities
BEVERLY, Mass., July 17, 2023 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital
About this update from Atn International, Inc.
[{"type":"text","content":"BEVERLY, Mass., July 17, 2023 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communication services, today announced the completion of a $300 million debt financing that includes extending, and expanding its senior secured credit facilities, consisting of a five-year $170 million revolving line of credit and a six-year $130 million term loan. “We appreciate the continued confidence and support of our bank group, led by CoBank, ACB,” commented Michael Prior ATN’s Chief Executive Officer. “These facilities are an important component of our overall capital structure and strengthen our financial position.” CoBank, ACB acted as Administrative Agent, Lead Arranger and lender, Fifth Third Bank and MUFG Bank, Ltd., both acted as Joint Lead Arrangers and lenders for the financing. About ATN ATN International, Inc. (Nasdaq: ATNI), headquartered in Beverly, Massachusetts, is a provider of digital infrastructure and communications services in the United States and internationally, including the Caribbean region, with a focus on rural and remote markets with a growing demand for infrastructure investments. The Company’s operating subsidiaries today primarily provide: (i) advanced wireless and wireline connectivity to residential, business and government customers, including a range of high-speed Internet and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier and enterprise communications services, such as terrestrial and submarine fiber optic transport, and communications tower facilities. For more information, please visit www.atni.com. Cautionary Language Concerning Forward-Looking Statements This press release contains forward-looking statements relating to, among other matters, the Company’s ability to utilize its expanded credit facilities and its ability to strengthen the Company’s financial position. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the events and results indicated in these statements as a result of many factors, including, among others, (1) the general performance of the Company’s operations, including operating margins, revenue...