Deal Description: On October 15, 2020, GCI, LLC (the “Borrower”), a wholly owned subsidiary of GCI Liberty, Inc., entered into an Amendment Agreement that amended and restated the Sixth Amended and Restated Credit Agreement of the Borrower dated as of December 27, 2018, to, among other things, (i) extend the maturity date of the borrowings and commitments under the revolving credit facility and the Term Loan B and (ii) increase the aggregate principal amount of the Term Loan B (the “Amended Credit Facilities”). The Amended Credit Facilities include a $550 million revolving credit facility and a $400 million Term Loan B. The borrowings under the revolving credit facility and the Term Loan B are scheduled to mature on October 15, 2025; provided that, if the Term Loan B is not refinanced or repaid in full prior to April 15, 2025, then the borrowings under the revolving credit facility will mature on April 15, 2025.
Baker Botts L.L.P. represented GCI in the transaction.
Value: $950 million
The Baker Botts Team:
Employee Benefits: Robin Melman (Partner, New York)
Real Estate: Patrick Matthews (Special Counsel, Dallas)
Corporate: Samantha Crispin (Partner, Dallas)
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