UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 29, 2010
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GENERAL COMMUNICATION, INC. |
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(Exact name of registrant as specified in its charter) |
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State of Alaska |
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0-15279 |
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92-0072737 |
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(State or other Jurisdiction of Incorporation or organization) |
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Commission File Number |
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(I.R.S Employer
Identification No.) |
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2550 Denali Street |
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Suite 1000 |
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Anchorage, Alaska |
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99503 |
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(Address of principal executive offices) |
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(Zip Code) |
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Registrant’s telephone number, including area code: (907) 868-5600
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NONE |
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(Former name or former address, if changed since last report) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
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o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Section 2 – Financial Information |
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Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
On January 29, 2010, GCI Holdings, Inc., a wholly owned subsidiary of the registrant, entered into a Second Amended and Restated Credit and Guarantee Agreement dated as of January 29, 2010 with GCI, Inc., a wholly owned subsidiary of the registrant, the subsidiary guarantors party thereto, the lenders party thereto, Calyon New York
Branch, as administrative agent, Royal Bank of Canada, as syndication agent, and CoBank, ACB, Union Bank of California, N.A. and Wells Fargo Bank, N.A., as documentation agents ("amended Senior Credit Facility"). The amended Senior Credit Facility provides a $75,000,000 revolving credit facility with a $25,000,000 sublimit for letters of credit. The interest rate under the amended Senior Credit Facility is LIBOR plus a margin dependent upon our Total Leverage Ratio ranging from 2.5% to 4.0%. The
amended Senior Credit Facility will mature on January 29, 2015. The terms of the amended Senior Credit Facility include customary representations and warranties, customary affirmative and negative covenants and customary events of default. At any time after the occurrence of an event of default under the amended Senior Credit Facility, the lenders may, among other options, declare any amounts outstanding under the amended Senior Credit Facility immediately due and payable and terminate any
commitment to make further loans under the amended Senior Credit Facility. The obligations under the amended Senior Credit Facility are secured by a security interest on substantially all of the assets of GCI Holdings, Inc. and the subsidiary guarantors, and on the stock of GCI Holdings, Inc.
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Section 9 – Financial Statements and Exhibits |
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Item 9.01 Financial Statements and Exhibits |
(d) Exhibits
Exhibit No. Description
10.170 Second Amended and Restated Credit and Guarantee Agreement
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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GENERAL COMMUNICATION, INC. |
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(Registrant) |
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Date: February 2, 2010 |
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By |
/s/ John M. Lowber |
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Name: John M. Lowber |
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Title: Senior Vice President, |
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Chief Financial Officer, |
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Secretary and Treasurer |
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(Principal Financial Officer) |
Exhibit Index
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Exhibit No. |
Description |
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10.170 |
Second Amended and Restated Credit and Guarantee Agreement |