Closes New 7-Year US$425 Million Syndicated US Term Loan and 5-Year US$100 Million Revolving Credit Facility
Sydney, May 16, 2018 AEST (ABN Newswire) - Speedcast International Limited (
ASX:SDA), the world's most trusted provider of remote communication and IT services, announced the completion of its US$425 million Senior Secured Credit Facility and of its new 5-year US$100 million Senior Secured Revolving Credit Facility.
Speedcast's previous bank loans, which included a 3-year US$425 million Senior Secured Bank Loan and a US$20 million Senior Secured Revolving Credit Facility, were concurrently repaid and cancelled.
With this new financing in place Speedcast now benefits from an extended maturity profile, lower cost of debt and improved operational flexibility.
About Speedcast International Ltd
Speedcast International Ltd (ASX:SDA) is the world's most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries. Learn more at www.speedcast.com.
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