Shenandoah Telecommunications Company Enters Into Amendment Repricing Its $185M Term Loan A

Shenandoah Telecommunications Company SHEN announced today that the Company had entered into an amendment to the Credit Agreement related to its existing $185 million Term Loan A Facility and Revolver Facility. The amendment provides for a repricing of the Term Loan A Facility and will improve the Company's overall cost of borrowing by reducing the applicable interest rate. The new pricing on the Term Loan A Facility was set at LIBOR plus 3.00%. The previous pricing was LIBOR plus 3.50%. The amendment also removed certain restrictions on the Company's ability to utilize the full $50 million available under the Revolver Facility. The Company had previously been restricted to using only $30 million of the Revolver Facility.