EDINBURG, Va.-Rural telecommunications provider Shenandoah Telecommunications Co., which also operates as a Sprint PCS affiliate, closed on its previously announced $23.2 million acquisition of NTC Communications, which provides Ethernet, cable television, local and long-distance telephone service to off-campus apartment communities. The deal included the 83.88 percent of NTC that Shenandoah did not previously own and was made up of approximately $10 million in cash and the assumption of $13.2 million of debt and capital leases.
In connection with the purchase, Shenandoah obtained a $15 million revolving credit facility from CoBank that will be used to refinance the NTC debt and capital leases.
