Closes New 7-Year US$425 Million Syndicated US Term Loan and 5-Year US$100 Million Revolving Credit Facility
Speedcast's previous bank loans, which included a 3-year US$425 million Senior Secured Bank Loan and a US$20 million Senior Secured Revolving Credit Facility, were concurrently repaid and cancelled.
With this new financing in place Speedcast now benefits from an extended maturity profile, lower cost of debt and improved operational flexibility.
About Speedcast International Ltd
Speedcast International Ltd (ASX:SDA) is the largest provider of remote communications and IT services in the world. Speedcast's fully managed service is delivered via a leading global, multi-access-technology, multi-band and multi-orbit network of 70+ satellites and an interconnecting global terrestrial network, bolstered by extensive on the ground local support from 40+ countries. This global "network of networks" allows customers to fully rely on the most robust, integrated infrastructure available in the market for their mission critical applications. Speedcast is uniquely positioned as a strategic business partner, tailoring communications, IT and digital solutions to meet unique customer needs and enable business transformation. Speedcast extends its managed services through differentiated technology offerings including cyber-security, crew welfare, content solutions, data & voice applications and network systems integration services. With a passionate customer focus and a strong safety culture, Speedcast serves more than 2,000 customers in over 140 countries in sectors such as Maritime, Energy, Mining, Enterprise, Media, Cruise, NGOs and Government. Learn more at Speedcast.
Speedcast International Ltd