Triton PCS amends loan, reducing size, changing financial covenants

By Sara Rosenberg

New York, May 15 - Triton PCS Holdings Inc. amended its credit facility, reducing the size to $300.3 million from $415.3 million. Furthermore, under the amendment certain restrictive financial covenants were changed, even though the company was in full compliance with all covenants prior to and after the amendment became effective.

More specifically, the company reduced its term loan E availability to $50 million from $115 million and paid down $50 million of pro-rata debt that was outstanding under the facility, according to a filing with the Securities and Exchange Commission.

As of May 6, $150.3 million of the credit facility was funded and $150.0 million was unfunded.

Triton PCS is a Berwyn, Pa. provider of wireless communications services.

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