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Article: AMERICAN TELECASTING ANNOUNCES AMENDMENT TO AND INITIAL FUNDING UNDER CREDIT FACILITY
- Article from:
- PR Newswire
- Article date:
- March 20, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. 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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COLORADO SPRINGS, Colo., March 20 /PRNewswire/ -- American Telecasting Inc. (Nasdaq: ATEL) announced today that it has amended its Eastern Facility by adding six additional systems to its existing 11 borrower-systems. These systems, which include Colorado Springs, Billings, Denver, Oklahoma City, Wichita, and Bend generate significant cash flow. The company has initially funded $9.5 million under this facility. The Facility provides for total borrowing of up to $44 million and may be expanded to up to $56 million upon additional bank participation. The company expects $44 million to be sufficient to finance subscriber growth and other operating growth needs in these ...