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Atlantic Tele-Network Inc. (ATNI), the parent company of Alltel Wireless Communications Corp., added $75 million of available credit to fund future growth initiatives and for planned capital expenses, the company said.
The carrier secured a new $50 million term loan and expanded by $25 million its existing revolver facility. In all, the company’s total available credit facility stands at $370 million. “This expansion gives us the flexibility to fund planned capital expenditures and continue the company’s growth initiatives,” said Justin D. Benincasa, ATN CFO.
The operator, which offers telecom service to niche markets in the United States, Bermuda and the Caribbean, said it used some of the new term loan to repay outstanding debt.
