Portland, Ore. – June 11, 2013 – Integra™, a provider of fiber-based, carrier-grade networking, communications and technology solutions, has successfully completed the amendment of its credit agreement, including the repricing of both its $60 million revolving credit facility and $585 million first lien term loan due 2019.
The first lien term loan facility now bears interest at LIBOR plus 4.00 percent, with a minimum LIBOR rate of 1.25 percent and was priced at par. The revolving credit facility remains undrawn and will bear interest at LIBOR plus 3.75 percent. As a result of the repricing, Integra has reduced the interest cost on each facility by 0.75 percent and expects to save at least $4.4 million of annual cash interest payments.
This repricing follows the company’s successful refinancing announcement in February.
About Integra
Integra™ is one of the largest facilities-based providers of communication and networking services in the western United States. We connect businesses of all sizes with advanced networking, communications and technology solutions in 35 metropolitan markets. Integra owns and operates an enterprise-class network consisting of a 5,000-mile long-haul fiber-optic network, 3,000–miles of metropolitan fiber and a nationwide IP/MPLS network. Our fiber network connects directly to more than 2,300 enterprise buildings and data centers. Through our expansive Ethernet-over-copper footprint, we can deliver high-bandwidth services to more than 400,000 businesses. At Integra, we understand our customers need reliable, secure and flexible solutions delivered with unmatched expertise and quality of service. For more information, visit www.integratelecom.com.
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