TAMUNING, Guam--(BUSINESS WIRE)--TeleGuam Holdings, Inc. (“GTA”), Guam’s leading provider of fiber, broadband and connectivity services to enterprises and consumers, announced that it has raised $146.2 million of lower cost capital which provides greater flexibility and allows GTA to accelerate its continued investment in Guam’s telecom infrastructure. On November 19, 2019, GTA reached an agreement to amend, extend and upsize its existing first lien term loan. The transaction proceeds will facilitate GTA’s continued investment in its island leading telecommunications infrastructure and repay GTA’s existing indebtedness. GTA is owned by Huntsman Family Investments (“HFI”).
Paul Huntsman, President and CEO of HFI, noted “We are proud of everything the GTA team has accomplished since we began our partnership in 2017. We are also thrilled to continue to support growth in Guam’s vibrant local community and provide Guam residents with state of the art telecommunications infrastructure.”
GTA President and CEO Roland Certeza cited the significance of the transaction to Guam and its residents: “Since HFI’s acquisition of GTA in 2017, our management team has worked to drive growth and improve operational efficiency,” said Certeza. “The additional financing is a testament to our performance over the past few years and to our employees’ efforts to grow the business and enhance customer experience. We now have the ability to re-invest in numerous on-island expansion opportunities and accelerate our historical growth.”
Lazard Middle Market acted as financial advisor to GTA, BNP Paribas acted as administrative agent, and Latham & Watkins LLP acted as GTA’s counsel.
About GTA
GTA provides complete communications services in Guam for residential and business customers. The company operates a 4G LTE wireless network, high-speed internet, digital television, and local and long-distance phone service. GTA also delivers carrier-class data circuits along with operating a cable landing station for the SEA-US cable consortium. Based in Tamuning, Guam, GTA is privately owned and locally managed. For more information, visit www.gta.net.
