Stratos To Repay Bridge Facility

By | January 6, 2003 | Feature

Stratos Global Corp., a Bethesda, Md.-based remote communication solutions and services, has reached an agreement with its lending banks regarding amendments to certain terms and conditions of its credit facilities, including the scheduled repayment of its $33 million bridge facility.

Stratos’ credit facilities are provided by a syndicate of Canadian chartered banks and consist of a $30 million revolving operating facility, a $190 million term facility, and a $33 million bridge facility.

Under the new terms, the $33 million bridge facility, which was to mature in July 2003, is now being repaid with scheduled payments concluding June 30, 2004. The scheduled repayments on the $190 million term facility have been amended to accommodate the scheduled bridge repayments. The new schedule of term and bridge repayments began with a $10 million payment Dec. 31.

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