Trilogy unit secures upsized NZ$285 million debt facility due 2023

By Wendy Van Sickle

Columbus, Ohio, Feb. 10 – Trilogy International Partners Inc. said its New Zealand subsidiary, 2degrees, obtained a NZ$285 million senior debt facility that matures in three years, according to a news release.

The new debt refinances the company’s NZ$250 million senior debt facility that was set to mature in July 2021.

The new facility carries an interest rate that is the total of New Zealand’s BKBM rate plus a margin, initially 240 basis points, that will vary based on 2degrees’ net leverage ratio.

There is a NZ$35 million accordion, which may be used in the future to fund capital expenditures.

ING Bank NV is the lead arranger and underwriter.

Trilogy is a Bellevue, Wash.-based wireless telecommunications company that operates in Latin America, the Caribbean and New Zealand.

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