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CNSL - Consolidated Communications closes incremental term loan financing of $150M
Consolidated Communications Holdings Inc.
Consolidated Communications (CNSL) secured and closed on an incremental $150M term loan that is fungible with the company's existing first lien term loan B with maturities due October 2027.The loans under the incremental term loan facility bear interest at a rate of equal to LIBOR plus of 4.75% annually with a 1.0% LIBOR floor.The company is positioned for growth with fully funded fiber expansion plans, targeting 1.6M fiber upgrades over the next five years inclusive of 300K locations in 2021.