Gogo Marks Key Milestone in Comprehensive Refinancing with Pricing and Allocation of New Term Loan B and Revolver
Transaction Will Facilitate Reduced Leverage, Enhance Liquidity and Financial Flexibility and Deliver Approximately $70 Million in Annual Interest Expense Savings
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CHICAGO, April 21, 2021 /PRNewswire/ Gogo Inc. (NASDAQ: GOGO) ( Gogo ) today announced the pricing and allocation of a 7-year $725 million term loan B (the Term Loan B ) and a 5-year $100 million revolving credit facility (the Revolver and together with the Term Loan B, the Facilities ), marking an important milestone in its comprehensive refinancing efforts. Gogo expects that the Term Loan B will bear interest at LIBOR (with a LIBOR floor of 0.75%) plus 3.75% and be offered at 99.5% of par (or with an original issue discount of 0.5%).
Ayr Wellness 12 5% Senior Secured Notes Begin Trading on the CSE
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International Airport Finance, S.A. (the Issuer ) announced today that it is soliciting consents (the
Consent Solicitation ) from all registered holders (individually, a
Holder, and collectively, the
Holders ) of its 12.000% Senior Secured Notes due 2033 (the
Notes ), upon the terms and conditions described in the Issuer s Consent Solicitation Statement, dated April 19, 2021 (the
Statement ), to certain proposed amendments that seek to amend the covenant (the waterfall provision) in the Issuer Security and Accounts Agreement, dated as of March 14, 2019 (the
Issuer Security and Accounts Agreement ), among the Issuer and Citibank, N.A., as trustee, notes collateral agent and notes account bank, that governs transfers from the Issuer Collections Account in order to permit the Issuer to use funds on deposit in the Issuer Collections Account to pay fees, costs, expenses or reimbursements related to (i) its business and operations, including without limitation ta
Telesat Canada Announces Proposed Secured Notes Offering
04/13/2021 | 09:15am EDT
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OTTAWA, April 13, 2021 (GLOBE NEWSWIRE) Telesat Canada (“Telesat”) today announced that, together with Telesat LLC, as co-issuer, it intends to issue US$500 million of senior secured notes due 2026 (the “Senior Secured Notes”) secured by a first priority lien on the collateral that secures Telesat’s existing credit agreement and existing 4.875% senior secured notes due 2027.
Telesat intends to use the net proceeds from the proposed offering of Senior Secured Notes (the “Offering”) to fund additional investment into one or more unrestricted subsidiaries for the development of Telesat Lightspeed, Telesat’s Low Earth Orbit (LEO) satellite network, for the payment of fees and expenses related to the Offering, and if the funding needs of Telesat Lightspeed are less than currently anticipated, for general corporate purposes.
Danaos Corporation Announces Consummation of Debt Refinancing
Danaos Corporation announced yesterday the consummation of its previously announced $1.25 billion refinancing of a substantial majority of its outstanding senior secured indebtedness. On April 12, 2021, the Company refinanced all of the outstanding indebtedness, which aggregated $1.3 billion as of December 31, 2020, under nine of the Company’s senior secured credit facilities, with the proceeds from a $815 million senior secured credit facility with Citibank N.A. and National Westminster Bank plc who have been lenders to the Company for more than 30 years, a $135 million sale leaseback agreement with Oriental Fleet International Company Limited, an affiliate of COSCO Shipping Lease Co., Ltd., with respect to five vessels, and the net proceeds of the Company’s February 2021 offering of $300 million of 8.500% Senior Secured Notes due 2028.
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