Press Releases
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June 2, 2009 - PAETEC Holding Corp. Announces an Amendment to its Credit Agreement
FAIRPORT, N.Y. - June 2, 2009 (Print-friendly PDF file)
PAETEC Holding Corp. (NASDAQ GS: PAET), which provides data, voice, and Internet solutions to business-class customers, announced an amendment to its current credit agreement pursuant to which PAETEC will be able, at its election, to use up to $100 million in cash over the next 18 months to repurchase its term loans below par.
FAIRPORT, N.Y. - June 2, 2009 (Print-friendly PDF file)
PAETEC Holding Corp. (NASDAQ GS: PAET), which provides data, voice, and Internet solutions to business-class customers, announced an amendment to its current credit agreement pursuant to which PAETEC will be able, at its election, to use up to $100 million in cash over the next 18 months to repurchase its term loans below par.
"The amendment allows us to take advantage of favorable market conditions and opportunistically enhance our capital structure," said Keith Wilson, PAETEC chief financial officer. "We appreciate the willingness of the debt community to allow us the flexibility in today's market; this is a great show of support for PAETEC's historical prudence and credit strength."
Additional information about the amendment will be contained in the Company's report on Form 8-K to be filed with the Securities and Exchange Commission.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications for business-class customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.