GTT Seeks Loan to Steady Finances Until Infrastructure Sale
- Company said to ask creditors for as much as $300 million
- Lenders and bondholders are in private talks with GTT
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GTT Communications Inc. is soliciting a short-term loan from existing creditors to keep it operating until the telecommunications company completes the sale of its infrastructure unit next year, according to people with knowledge of the plans.
First-lien lenders and bondholders are being asked to decide by the end of this month if they want to provide a new super-senior loan of $200 million to $300 million, the people said, asking not to be identified discussing a private matter. The financing would support operations through the second half of 2021 when the sale is expected to close, the people said.