EarthLink, Inc. ELNK
("EarthLink" or the "Company") announced today that it is launching efforts to
obtain a new secured credit facility consisting of up to a $300 million term
loan and up to a $150 million revolving credit facility (the "New Facility").
The proceeds from borrowings under the New Facility would be used, together
with existing cash, to repay the outstanding 10.5% Senior Secured Notes due
2016 of EarthLink's wholly owned subsidiary, ITC^DeltaCom, Inc.
("ITC^DeltaCom"), to replace the Company's existing $150 million revolving
credit facility (which has no borrowings outstanding), and to pay related fees
and expenses.
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