Speedcast International (ASX:SDA) set to refinance debt | Finance News Network

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.