Nuvera enters $180M credit facility with CoBank; repays prior debt

Nuvera Communications, Inc.

New $180M facility: $125M term loan, $25M delayed draw term loan, $30M revolving credit.
Maturity June 21, 2029; proceeds used to retire the 2022 Credit Agreement.
Dividends capped at $3M/yr if leverage ≤4.25x; unlimited if ≤3.50x; no dividend if covenant breached.
Financial covenants: max leverage ratio 6.0x initially, minimum debt service coverage ratio 2.0x.
Interest: Base Rate + 1.75%-3.00% or Term SOFR + 2.75%-4.00% based on leverage tier.

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