Speedcast International (ASX:SDA) set to refinance debt

Company News

by Rachael Jones

Speedcast International (ASX:SDA) today announced its intention to pursue the refinancing of its existing Bank Loans.

The remote communication and IT services company will start a new 7-year US$425 million Senior Secured Credit Facility in the US institutional Term Loan B market.

In addition, it intends to arrange a new 5-year US$100m Senior Secured Revolving Credit Facility.

The existing Bank Loans include a 3-year US$425 million Senior Secured Bank Loan and a US$20 million Senior Secured Revolving Credit Facility.

Speedcast International ( ASX:SDA) shares are up 1.7 per cent to $5.45.
 

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