Crystal Financial Provides $25.0 Million Term Loan for Alaska Communications
November 10 2015 - 10:02AM
Business Wire
Crystal Financial SBIC and Crystal Financial LLC today announced
the closing of a $25.0 million Second Lien Term Loan for Alaska
Communications (NASDAQ: ALSK). The Company is a leading provider of
broadband, voice and IT managed services throughout the state of
Alaska.
Proceeds from the facility were used to refinance an existing
facility with an upcoming maturity in 2016 and to provide liquidity
for general corporate purposes.
Matt Governali, Managing Director of Crystal Financial SBIC,
commented, “The Company operates a critical and significant
statewide network for consumer and enterprise customers, including
a vital undersea fiber optic cable system connecting Alaska to the
lower 48 States. The management team is successfully navigating a
material change to its business with the divestiture of the
Company’s wireless division, and continues to focus the Company on
executing its core operating strategies. We are truly pleased to
provide the financing.”
“Crystal was able to work quickly and collaboratively with a
senior lender syndicate to facilitate this refinancing. They were
quick to understand the important drivers of our business and the
fundamentals of our geographic and industry positioning. We look
forward to a long term partnership,” said Wayne Graham, Alaska
Communications Chief Financial Officer.
About Alaska Communications
Alaska Communications (NASDAQ:ALSK) is the leading provider of
advanced broadband and IT managed services for businesses and
consumers in Alaska. The company operates a highly reliable,
advanced statewide data network with the latest technology and the
most diverse undersea fiber optic system connecting Alaska to the
contiguous U.S. For more information, visit
www.alaskacommunications.com or www.alsk.com.
About Crystal Financial
Crystal Financial is an independent commercial finance company
that provides senior and junior secured loans for both asset-based
and cash flow financings to middle-market companies. Its team of
experienced, responsive professionals has underwritten, closed and
managed more than $20 billion in secured debt commitments across a
wide range of industries. For more information please visit
www.crystalfinco.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151110006195/en/
Crystal FinancialCheryl Carner, 617-428-8718orAlaska
CommunicationsHannah Blankenship, 907-564-1326
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