ITC^DeltaCom to repay bank debt with bond sale proceeds

By Sara Rosenberg

New York, March 15 - ITC^DeltaCom Inc. plans to repay about $281 million of existing senior and junior secured credit facilities debt, and other debt with proceeds from a proposed $300 million fixed- and floating-rate second priority senior secured notes offering, according to a company news release.

Remaining proceeds from the bond deal will be used for working capital and other general corporate purposes.

ITC^DeltaCom is a West Point, Ga., provider of integrated telecommunications and technology services.

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