CTC, Choice One to refinance bank debt as part of merger

By Sara Rosenberg

New York, Feb. 10 - CTC Communications and Choice One Communications will need to refinance any existing bank debt as a condition of the two companies' proposed merger with each other, according to a company news release.

The merged entity, which is currently unnamed, will be 50% owned by current shareholders of Choice One and CTC equally.

Choice One is a Rochester, N.Y.-based provider of voice and data services. CTC Communications is a Waltham, Mass.-based integrated communications carrier.

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