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Article: US Unwired Inc. Lenders Revise Covenants, Approve Asset Sales.
- Article from:
- Business Wire
- Article date:
- October 30, 2003
CopyrightCOPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/High-Tech Writers
LAKE CHARLES, La.--(BUSINESS WIRE)--Oct. 30, 2003
US Unwired Inc. (OTC Bulletin Board:UNWR) today announced that it has reached an agreement with its senior credit lenders to modify certain provisions of its $170 million senior secured credit facility. Highlighting those changes is a revised set of financial covenants that will give the company increased financial flexibility. The amendment, which is effective immediately, also includes the retention of $40 million of revolver availability subject to certain additional borrowing conditions, an immediate payment of $10 million to the facility's term loans and an increase ...
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