Brief: Consolidated Communications Announces Strategic Investment From Searchlight Capital Partners

Consolidated Communications Holdings

14/09/2020 12:10

Sept 14 (Reuters) - Consolidated Communications Holdings Inc
 CNSL.O :
    * CONSOLIDATED COMMUNICATIONS ANNOUNCES STRATEGIC INVESTMENT
FROM
SEARCHLIGHT CAPITAL PARTNERS; INITIATES REFINANCING
    * CONSOLIDATED COMMUNICATIONS - ANNOUNCES REFINANCING OF ITS
OUTSTANDING DEBT; NO SIGNIFICANT DEBT MATURITY UNTIL LATE 2027
    * CONSOLIDATED COMMUNICATIONS HOLDINGS INC - AFFILIATES OF
SEARCHLIGHT HAVE COMMITTED TO INVEST UP TO AN AGGREGATE OF $425
MILLION IN COMPANY
    * CONSOLIDATED COMMUNICATIONS HOLDINGS INC - INVESTMENT HAS
BEEN
UNANIMOUSLY APPROVED BY CONSOLIDATED BOARD OF DIRECTORS
    * CONSOLIDATED COMMUNICATIONS - IN CONNECTION WITH
INVESTMENT FROM
SEARCHLIGHT WILL REDUCE NET DEBT BY $325 MILLION
    * CONSOLIDATED COMMUNICATIONS - IN CONNECTION WITH
INVESTMENT FROM
SEARCHLIGHT WILL LAUNCH REFINANCING OF ALL REMAINING $2 BILLION
OF OUTSTANDING DEBT
    * CONSOLIDATED COMMUNICATIONS - AT CLOSING OF FIRST STAGE OF
INVESTMENT, CO'S BOARD WILL APPOINT 1 SEARCHLIGHT NOMINEE, DAVID
FULLER
    * CONSOLIDATED COMMUNICATIONS - AFTER CLOSING OF SECOND
STAGE OF
INVESTMENT, SEARCHLIGHT WOULD BE ENTITLED TO APPOINT SECOND
DIRECTOR TO CO'S BOARD

Source text for Eikon:  ID:nGNX805z6H 
Further company coverage:  CNSL.O 

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