Shenandoah Telecommunications Company, known as Shentel, has successfully completed the refinancing of its credit facilities.
The refinancing includes raising new funds and extending maturities to 2030, aiming to lower the cost of debt by approximately 170 basis points.
The company closed on a large offering of secured fiber network revenue term notes and introduced new credit facilities to bolster its financial position.
Successful Refinancing
Achieved by closing inaugural secured fiber network term notes and implementing new credit facilities.
Cost Reduction
Expects to lower the cost of debt by approximately 170 basis points, saving $10.0 million annually.
Maturity Extension
Extended maturities to 2030 for enhanced financial flexibility.
Strategic Borrowings
Raised significant funds through various credit facilities to support growth initiatives.
- The refinancing strengthens Shentel's balance sheet by extending maturities and reducing the cost of capital.
- It provides financial flexibility for future expansions, including the Glo Fiber project in 2026.
- The expected reduction in cost of debt and interest expenses will positively impact the company's financial performance and profitability.
Shentel's successful refinancing initiative demonstrates strategic financial planning and positions the company for future growth and stability in the telecommunications sector.