Akin Gump Advises GTT Communications in $275 Million Term Loan Facility
(New York) – GTT Communications, Inc., a leading global cloud networking provider to multinational clients, has entered into a priming facility credit agreement, which provides the company with a new $275 million delayed-draw term loan facility. GTT also entered into amendments to its existing credit agreement and indenture to permit the new facility and forbearance agreements relating to financial reporting issues. A team from Akin Gump advised GTT in the transaction.
GTT made its initial draw of $100 million under the new facility on December 29, with a subsequent draw of $175 million available subject to the satisfaction of certain specified delayed-draw conditions.
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The Akin Gump team advising GTT was led by capital markets partner Jesse Brush, debt finance partner Luke Charleston, financial restructuring partners Ira Dizengoff and Phil Dublin, and integrated special situations group head Dan Fisher.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
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