Dobson Communications gets extension on restructuring of loan

By Carlise Newman

Chicago, April 22 - Dobson Communications Corp.'s majority shareholder, Dobson CC LP, and Bank of America NA have extended the deadline to amend and restructure DCCLP's loan to April 25.

On March 31 DCCLP reached an agreement in principle with Bank of America for the amendment and restructuring of the loan, under which DCCLP will maintain controlling interest in Dobson Communications, and any change of control risk arising from a default under the restructured loan would be permanently eliminated. Those terms are unchanged.

The agreement in principle is not binding and is subject to the completion of a definitive agreement. Dobson said it can provide no assurance that DCCLP and Bank of America will complete the transactions for in the agreement in principle.

Oklahoma City-based Dobson is a wireless communications company.

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