ATN International, Inc. (ATNI): debt financing — ATN International amends credit agreements, increases ACS facilities by $60M, extends Commnet draw period

On December 23, 2022, Alaska Communications Systems Group, Inc., a Delaware corporation and subsidiary of the Company drew $40 million in additional Revolving Credit Commitment and $20 million in Additional Term Loan Commitment under its revolving credit facility under its Credit Agreement, dated as of July 22, 2021 and as amended on December 23, 2022, by and between Alaska Communications Systems Group, Inc., Alaska Management, Inc., a Delaware corporation (“Holdings”), the other Guarantors identified on the signature pages hereto, the Lenders party hereto, and Fifth Third Bank, National Association, as Administrative Agent, an L/C Issuer and Swing Line Lender and Bank of the West, as an L/C Issuer.

On December 23, 2022, ATN International, Inc., a Delaware corporation (the " Company "), Commnet Wireless, LLC, a Delaware limited liability company and subsidiary of the Company (" Commnet Wireless "), and Commnet Finance, LLC, a Delaware limited liability company and a wholly owned subsidiary of Commnet Wireless (" Commnet Finance "), entered into an Amendment and Confirmation Agreement with CoBank, ACB (" CoBank "), as Administrative Agent, Lead Arranger and Sole Bookrunner, and the Lenders party thereto (the " Receivables Credit Agreement Amendment "), effective as of December 22, 2022. The Receivables Credit Agreement Amendment is the second amendment to the Credit Agreement, dated as of March 26, 2020 between Commnet Wireless, Commnet Finance, the Company, and CoBank (the " Receivables Credit Agreement ") to, among other things, extend the draw period under the delayed draw term loan to December 31, 2023.

On December 28, 2022 (the " Amendment Date "), the Company, along with certain of its subsidiaries as guarantors, entered into an Amendment Agreement with CoBank, ACB (" CoBank "), as Administrative Agent, (the " Credit Agreement Amendment ")., effective as of November 7, 2022. The Credit Agreement Amendment amends the Fourth Amended and Restated Credit Agreement, dated as of December 19, 2014, as amended, between the Company, CoBank, and the guarantors and lenders party thereto (the " CoBank Credit Agreement ") to, among other things, allow for the joinder of certain new subsidiaries as guarantors and approve of certain transactions contemplated in connection of the Company’s recently completed acquisition of Sacred Wind Enterprises, Inc.

On December 23, 2022, Alaska Communications Systems Group, Inc., a Delaware corporation and subsidiary of the Company, Alaska Management, Inc., a Delaware corporation, the other Guarantors, the Lenders, and Fifth Third Bank, National Association, as Administrative Agent, an L/C Issuer and Swing Line Lender and Bank of the West, as an L/C Issuer, entered into a First Amendment Agreement (the "ACS Amendment"). The ACS First Amendment amends to the Credit Agreement, dated as of July 22, 2021 between the Borrower, Holdings and the Lenders therein (the "ACS Credit Agreement") to, among other things, increase the aggregate Revolving Credit Commitment from $35 million to $75 million and Term Loan Commitments from $210 million to $230 million (each as defined in the ACS Credit Agreement).