Shentel extends draw period on $300M term loans to Dec 31, 2023; shifts first repayment to Mar 2024

SHENANDOAH TELECOMMUNICATIONS CO/VA/

Amendment extends $150M Term Loan A-1 and $150M Term Loan A-2 draw period from July 1 to Dec 31, 2023.
First quarterly principal repayment deferred from Sept 30, 2023 to Mar 31, 2024.
Benchmark rate updated to Term SOFR plus 10 bps credit spread adjustment; other terms unchanged.
Borrowers paid $300K amendment fee; all conditions satisfied, effective May 17, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SHENANDOAH TELECOMMUNICATIONS CO/VA/ amended Amendment No. 1 to Credit Agreement with various financial institutions party thereto (the "Lenders") and CoBank, ACB, as administrative agent for the Lenders (effective 2023-05-17).

Action: amendment
Agreement: credit facility
Counterparty: various financial institutions party thereto (the "Lenders") and CoBank, ACB, as administrative agent for the Lenders
Effective: 2023-05-17

Exact text from the filing

On May 17, 2023, Shenandoah Telecommunications Company (the “Company”) entered into Amendment No. 1 to Credit Agreement (the “Amendment”) to its existing Credit Agreement, dated as of July 1, 2021, with various financial institutions party thereto (the “Lenders”) and CoBank, ACB, as administrative agent for the Lenders (the “Credit Agreement”).

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SHENANDOAH TELECOMMUNICATIONS CO/VA/ filing history →

Source: SEC EDGAR

accession 0001171843-23-003425

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