ATN International Enters Material Definitive Agreement

TL;DR

ATN Intl just signed a big deal, could be debt or something else material.

AI Summary

On August 29, 2024, ATN International, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, headquartered in Beverly, MA, filed an 8-K report detailing this event.

Why It Matters

This filing indicates a significant financial commitment or obligation for ATN International, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements often involves significant financial commitments or obligations that carry inherent risks.

Key Players & Entities

• ATN International, Inc. (company) — Registrant
• August 29, 2024 (date) — Date of earliest event reported
• 500 Cummings Center, Beverly, MA 01915 (location) — Company Business Address

FAQ

Key Financial Figures

• $90,000,000 — any one time outstanding not to exceed $90,000,000 (the "Revolving Facility") and a five-y
• $300,000,000 — y in the aggregate amount not to exceed $300,000,000 (the "Term Facility" and, together with
• $279,000,000 — btedness in the amount of approximately $279,000,000, plus accrued and unpaid interest, (b)
• $91,000,000 — gate principal amount of the greater of $91,000,000 and trailing twelve-month Consolidated
• $1,875,000 — 2026 through the third quarter of 2027, $1,875,000; and from the fourth quarter of 2027 th
• $3,750,000 — 027 through the second quarter of 2029, $3,750,000. The remaining unpaid balance is due on

Filing Documents

• tm2422913d1_8k.htm (8-K) — 46KB
• tm2422913d1_ex10-1.htm (EX-10.1) — 1200KB
• tm2422913d1_ex99-1.htm (EX-99.1) — 5KB
• 0001104659-24-095322.txt ( ) — 1670KB
• atni-20240829.xsd (EX-101.SCH) — 3KB
• atni-20240829_lab.xml (EX-101.LAB) — 33KB
• atni-20240829_pre.xml (EX-101.PRE) — 22KB
• tm2422913d1_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Credit Agreement On August 29, 2024, certain subsidiaries of ATN International, Inc (the "Company"), Alaska Communications Systems Group, Inc., as borrower (the "Borrower"), and its holding company, Alaska Management, Inc. ("Holdings"), and certain of Holdings' direct and indirect subsidiaries, as guarantors, entered into a Credit Agreement with Bank of America, N.A., as administrative agent, an L/C issuer and swing line lender, Fifth Third Bank, National Association, as an L/C issuer, the lenders party thereto, and BofA Securities, Inc, Fifth Third Bank, National Association, BMO Bank NA, The Huntington Bank National Association, and MUFG Bank Ltd., as joint lead arrangers, and BofA Securities, Inc, Fifth Third Bank, National Association, and MUFG Union Bank, N.A. as joint bookrunners, and Fifth Third Bank, National Association, and MUFG Bank Ltd. as co-syndication agents, and BMO Bank NA, The Huntington Bank National Association and CoBank ACB, as co-documentation agents (the "Credit Agreement"), to provide debt financing in the form of a revolving facility in an aggregate amount at any one time outstanding not to exceed $90,000,000 (the "Revolving Facility") and a five-year secured term loan facility in the aggregate amount not to exceed $300,000,000 (the "Term Facility" and, together with the Revolving Facility, collectively, the "2024 Credit Facility"). The Term Facility proceeds are to be used (a) to refinance Alaska Communications' outstanding indebtedness in the amount of approximately $279,000,000, plus accrued and unpaid interest, (b) to pay fees and expenses associated with this transaction, and (c) for general corporate purposes. Proceeds of the Revolving Facility are to be used, subject to certain limitations, (a) to issue letters of credit to replace or backstop existing letters of credit of Alaska Communications and its direct and indirect subsidiaries, and (b) for working capital purposes,

03. Creation of a Direct Financial Obligation or an Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. Press Release On August 29, 2024 , the Company issued a press release announcing entry into a Credit Agreement. A copy of this press release is furnished herewith as Exhibit 99.1 hereto. Exhibit 99.1 is furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 10.1 Credit Agreement, dated as of August 29, 2024 among Alaska Communications Systems Group, Inc., as borrower (the "Borrower"), and its holding company, Alaska Management, Inc. ("Holdings"), and certain of Holdings' direct and indirect subsidiaries, as guarantors, Bank of America, N.A., as administrative agent, an L/C issuer and swing line lender, Fifth Third Bank, National Association, as an L/C issuer, the lenders party thereto, and BofA Securities, Inc, Fifth Third Bank, National Association, BMO Bank NA, The Huntington Bank National Association, and MUFG Bank Ltd., as joint lead arrangers, and BofA Securities, Inc, Fifth Third Bank, National Association, and MUFG Union Bank, N.A., as joint bookrunners, and Fifth Third Bank, National Association, and MUFG Bank Ltd., as co-syndication agents, and BMO Bank NA, The Huntington Bank National Association and CoBank ACB, as co-documentation agents. 99.1 Press Release, dated as of August 29, 2024, issued by the Company. 104 Cover page formatted in Inline XBRL. * * *

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ATN INTERNATIONAL, INC. By: /s/ Carlos Doglioli Carlos Doglioli Chief Financial Officer Dated: August 29, 2024

View Full Filing

View this 8-K filing on SEC EDGAR