LICT Corporation Closes on $100 Million Financing
LICT has successfully closed a 5-year, $100 million Revolving Credit Facility with CoBank, ACB. This new facility represents a significant expansion from the previous $50 million facility and extends through 2029. The arrangement includes an improved covenant structure and provides greater flexibility for capital expenditures to serve communities and pursue inorganic growth opportunities. The deal strengthens LICT's financial position and demonstrates CoBank's continued partnership with the company.
LICT ha concluso con successo un accordo per una linea di credito revolving di 100 milioni di dollari della durata di 5 anni con CoBank, ACB. Questa nuova linea rappresenta una significativa espansione rispetto alla precedente linea di 50 milioni di dollari e si estende fino al 2029. L'accordo include una struttura di covenants migliorata e offre maggiore flessibilità per le spese in conto capitale per servire le comunità e perseguire opportunità di crescita inorganica. L'accordo rafforza la posizione finanziaria di LICT e dimostra la continua partnership di CoBank con l'azienda.
LICT ha cerrado con éxito una facilidad de crédito revolving de 100 millones de dólares por 5 años con CoBank, ACB. Esta nueva facilidad representa una expansión significativa respecto a la anterior de 50 millones de dólares y se extenderá hasta 2029. El acuerdo incluye una estructura de convenios mejorada y proporciona mayor flexibilidad para gastos de capital, para servir a las comunidades y buscar oportunidades de crecimiento inorgánico. La operación fortalece la posición financiera de LICT y demuestra la continua colaboración de CoBank con la empresa.
LICT는 CoBank, ACB와 함께 5년 동안 1억 달러의 리볼빙 신용 시설을 성공적으로 체결했습니다. 이 새로운 시설은 이전의 5천만 달러 시설에서 크게 확장된 것으로, 2029년까지 연장됩니다. 이 계약은 개선된 약속 구조를 포함하고 있으며, 지역 사회를 지원하고 비유기적 성장 기회를 추구하기 위해 자본 지출에 대한 더 큰 유연성을 제공합니다. 이번 거래는 LICT의 재정적 위상을 강화하고, CoBank와의 지속적인 파트너십을 보여줍니다.
LICT a réussi à conclure une facilité de crédit revolving de 100 millions de dollars sur 5 ans avec CoBank, ACB. Cette nouvelle facilité représente une expansion significative par rapport à la précédente de 50 millions de dollars et s'étend jusqu'en 2029. L'accord comprend une structure de covenants améliorée et offre une plus grande flexibilité pour les dépenses en capital afin de servir les communautés et de poursuivre des opportunités de croissance inorganique. L'accord renforce la position financière de LICT et démontre le partenariat continu de CoBank avec l'entreprise.
LICT hat erfolgreich eine 5-jährige revolvierende Kreditfazilität über 100 Millionen Dollar mit CoBank, ACB abgeschlossen. Diese neue Fazilität stellt eine bedeutende Erweiterung im Vergleich zur vorherigen Fazilität von 50 Millionen Dollar dar und läuft bis 2029. Die Vereinbarung umfasst eine verbesserte Covenants-Struktur und bietet größere Flexibilität für Investitionen in das Kapital, um Gemeinschaften zu bedienen und anorganische Wachstumsmöglichkeiten zu verfolgen. Der Deal stärkt die finanzielle Position von LICT und zeigt die fortdauernde Partnerschaft von CoBank mit dem Unternehmen.
- Doubled credit facility from $50M to $100M
- Extended credit facility term through 2029
- Improved covenant structure for greater financial flexibility
- Enhanced capacity for capital expenditures and inorganic growth
- Increased debt exposure and potential financial obligations
Stephen J. Moore, Vice President - Finance of LICT, said, “CoBank has been a terrific partner to LICT for many years. Their industry knowledge and strong understanding of our business operations allowed them to structure a transaction that provides LICT with an attractive financing alternative.”
Hunter Hook, Managing Director at CoBank said, “CoBank is pleased that LICT selected CoBank for this transaction, which provides important financial benefits for the company and supports the management team’s continued focus on achieving strategic objectives and delivering solid operating results.”
This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions, financial markets and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be successful or that financial or other targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. LICT is listed on the OTC Pink ® under the symbol LICT. For further information, please visit our website listed above.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241024236031/en/
Stephen J. Moore
Vice President-Finance
914-921-8821
www.lictcorp.com
Source: LICT Corporation
FAQ
What is the size of LICT 's new credit facility with CoBank?
How long is the term of LICT's new credit facility?
What are the main benefits of LICT's new credit facility?
How much did LICT increase its credit facility by in the new agreement?
