NTELOS Holdings Corp. Refinances Existing Term A Loans
-Upsized from $148 Million to $188 Million
-Maturity Extended from April 2015 to November 2019
WAYNESBORO, Va., Feb. 3, 2014
WAYNESBORO, Va., Feb. 3, 2014 /PRNewswire/ --NTELOS Holdings Corp. (the
"Company," NASDAQ: NTLS), a leading regional provider of nationwide wireless
voice and data communications and home to the "best value in wireless,"
announced today that it completed the refinancing of its existing Term A
Loans. The transaction converted the outstanding principal amount of the
Company's Term A Loans (approximately $148.3 million) into Term B Loans and
raised an additional $40.0 million of Term B Loans to be used for general
corporate purposes. The new Term B Loans bear the same interest rate, terms
and CUSIP as the Company's existing Term B Loans, which closed on November 9,
Favorable market conditions and strong demand enabled nTelos to refinance its
debt and to upsize the offering. With the refinancing, the Company extended
the maturity of its aggregate $533.8 million in debt to November 9, 2019,
further increasing its financial flexibility.
NTELOS Holdings Corp. (NASDAQ: NTLS), operating through its subsidiaries as
"nTelos Wireless," is headquartered in Waynesboro, VA, and provides
high-speed, dependable nationwide voice and data coverage for over 464,600
retail subscribers based in Virginia, West Virginia and portions of Maryland,
North Carolina, Pennsylvania, Ohio and Kentucky. The Company's licensed
territories have a total population of approximately 8.1 million residents, of
which its wireless network covers approximately 6.0 million residents. The
Company is also the exclusive wholesale provider of network services to Sprint
Nextel in the western Virginia and West Virginia portions of its territories
for all Sprint CDMA wireless customers.
Any statements contained in this press release or in the materials referenced
herein that are not statements of historical fact, including statements about
our beliefs and expectations, are forward-looking statements and should be
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current expectations, plans and strategies, and anticipated financial results,
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that may cause our actual results to differ materially from those expressed or
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forward-looking statements, including certain risks and uncertainties that
could cause actual results to differ from those contained in the
forward-looking statements. We advise the reader to review in detail the
cautionary statements and risk factors included in our SEC filings, including
our most recent Annual Report filed on Form 10-K and Quarterly Reports filed
on Form 10-Q.
Investor Relations Contacts:
Jeffrey Goldberger / Rob Fink
KCSA Strategic Communications
P: 212-896-1249 / 212-896-1206
Email: email@example.com / firstname.lastname@example.org
SOURCE NTELOS Holdings Corp.
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