Alaska Communications Repurchased $10 Million of Convertible Notes
February 01 2016 - 7:55AM
Business Wire
Alaska Communications (NASDAQ:ALSK) announced that on January
29, 2016, the company, in privately negotiated transactions,
repurchased $10.0 million aggregate principal amount of its 6.25%
Convertible Notes due 2018 for cash consideration of $9.75 million.
As a result of these repurchases, $94.0 million of the 6.25%
Convertible Notes remain outstanding as of January 29, 2016.
"This transaction reflects the strength of our balance sheet and
confidence in our business plan to create long-term shareholder
value,β said Alaska Communications CEO Anand Vadapalli. βIn the
last year, we reduced the balance on our term loan facilities by
$232.7 million, completed refinancing transactions resulting in
current maturities with due dates no earlier than 2018, and
repurchased a total of $20.0 million of Convertible Notes,
including this most recent repurchase.β
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160201005357/en/
Alaska CommunicationsMedia:Hannah Blankenship,
907-564-1326Hannah.Blankenship@acsalaska.comorInvestor:Tiffany
Dunn, 907-564-7556investors@acsalaska.com
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