NTELOS Enters Into Amendment Repricing its $751M Term Loan

NTELOS Holdings Corp. NTLS announced today that the company had entered into an amendment to the Credit Agreement related to its existing $751 million term loan.

The amendment provides for a repricing of the Term Loan and will improve the Company's overall cost of borrowing by reducing the applicable interest rate.

The new pricing on the first lien term loan was set at LIBOR plus 3.00%, with a LIBOR minimum of 1% and was entered into at par. The previous pricing was LIBOR plus 3.75%, with a LIBOR minimum of 2%.