BOSTON--(BUSINESS WIRE)--Crystal Financial SBIC and Crystal Financial LLC today announced the closing of a $25.0 million Second Lien Term Loan for Alaska Communications (NASDAQ: ALSK). The Company is a leading provider of broadband, voice and IT managed services throughout the state of Alaska.
Proceeds from the facility were used to refinance an existing facility with an upcoming maturity in 2016 and to provide liquidity for general corporate purposes.
Matt Governali, Managing Director of Crystal Financial SBIC, commented, “The Company operates a critical and significant statewide network for consumer and enterprise customers, including a vital undersea fiber optic cable system connecting Alaska to the lower 48 States. The management team is successfully navigating a material change to its business with the divestiture of the Company’s wireless division, and continues to focus the Company on executing its core operating strategies. We are truly pleased to provide the financing.”
“Crystal was able to work quickly and collaboratively with a senior lender syndicate to facilitate this refinancing. They were quick to understand the important drivers of our business and the fundamentals of our geographic and industry positioning. We look forward to a long term partnership,” said Wayne Graham, Alaska Communications Chief Financial Officer.
About Alaska Communications
Alaska Communications (NASDAQ:ALSK) is the leading provider of advanced broadband and IT managed services for businesses and consumers in Alaska. The company operates a highly reliable, advanced statewide data network with the latest technology and the most diverse undersea fiber optic system connecting Alaska to the contiguous U.S. For more information, visit www.alaskacommunications.com or www.alsk.com.
About Crystal Financial
Crystal Financial is an independent commercial finance company that provides senior and junior secured loans for both asset-based and cash flow financings to middle-market companies. Its team of experienced, responsive professionals has underwritten, closed and managed more than $20 billion in secured debt commitments across a wide range of industries. For more information please visit www.crystalfinco.com.