{"id":69111,"date":"2017-01-06T20:27:45","date_gmt":"2017-01-06T12:27:45","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/gee-pays-down-debt-with-new-500-million-term-loan-facility\/"},"modified":"2017-01-06T20:27:45","modified_gmt":"2017-01-06T12:27:45","slug":"gee-pays-down-debt-with-new-500-million-term-loan-facility","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/gee-pays-down-debt-with-new-500-million-term-loan-facility\/","title":{"rendered":"GEE Pays Down Debt with New $500 Million Term Loan Facility"},"content":{"rendered":"<\/p>\n<p>[Via Satellite 01-06-2016] <strong>Global Eagle Entertainment<\/strong> (GEE) has refinanced its existing credit facilities with a new $500 million senior-secured term-loan facility and a new $85 million senior-secured revolving credit facility. According to a statement released Jan. 6, the company will use the proceeds of the new term-loan facility to pay down all of the company\u2019s existing term-loan and revolving-credit facility debt.<\/p>\n<p>\u201cWith the closing of these new facilities, we have improved our balance sheet with a lower effective interest rate to support our current growth initiatives and increased our overall liquidity,\u201d said Dave Davis, chief executive officer of GEE.<\/p>\n<p>The new senior secured credit agreement includes a 6-year, $500 million term-loan facility at an interest rate of LIBOR+600 basis points. It also includes a 5-year revolving credit facility initially priced at LIBOR+600 basis points, which increases the company\u2019s revolving borrowing capacity to $85 million from $75.5 million under the previous revolving credit facility. At closing, the company had no borrowings outstanding under its new revolving credit facility.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[Via Satellite 01-06-2016] Global Eagle Entertainment (GEE) has refinanced its existing credit facilities with a new $500 million senior-secured term-loan facility and a new $85 million senior-secured revolving credit facility. According to a statement released Jan. 6, the company will use the proceeds of the new term-loan facility to pay down all of the company\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":69112,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-69111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/69111"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=69111"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/69111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/69112"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=69111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=69111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=69111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}