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.