ATN INTERNATIONAL, INC.

(ATNI)
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Delayed Nasdaq  -  05/16 04:00:00 pm EDT
40.95 USD   +2.53%
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ATN INTERNATIONAL, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

01/04/2022 | 12:04pm EDT

Item 1.01 Entry into a Material Definitive Agreement




Receivables Credit Agreement


On December 29, 2021 (the "Amendment Date"), ATN International, Inc., a Delaware corporation (the "Company"), Commnet Wireless, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company ("Commnet Wireless"), and Commnet Finance, LLC, a Delaware limited liability company and a wholly owned subsidiary of Commnet Wireless ("Commnet Finance"), entered into an Amendment and Confirmation Agreement with CoBank, ACB ("CoBank"), as Administrative Agent, Lead Arranger and Sole Bookrunner, and the Lenders party thereto (the "Receivables Credit Agreement Amendment").

The Receivables Credit Agreement Amendment amends the Credit Agreement, dated as of March 26, 2020 between Commnet Wireless, Commnet Finance, the Company, and CoBank (the "Receivables Credit Agreement") to, among other things, extend the draw period under the delayed draw term loan to December 31, 2022. The Receivables Credit Agreement Amendment also restricts the Company from entering into any loans accruing at the London Interbank Offered Rate ("LIBOR") and increases the interest on loans advanced after the Amendment Date to a rate based on (i) a base rate plus 1.75% or (ii) a fixed annual interest rate to be quoted by CoBank in its sole and absolute discretion.

The foregoing description is only a summary of the provisions of the Receivables Credit Agreement Amendment and is qualified in its entirety by the terms of the Receivables Credit Agreement Amendment, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits





(d) Exhibits.




  10.1     Amendment and Confirmation Agreement, dated as of December 29, 2021,
         among Commnet Finance, LLC, as Borrower, Commnet Wireless, LLC, as
         Originator and Servicer, ATN International, Inc., as Limited Guarantor,
         CoBank, ACB, as Administrative Agent, Lead Arranger, and Sole
         Bookrunner, and the Lenders party thereto.



104 Cover page formatted in Inline XBRL.

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Financials (USD)
Sales 2022 721 M - -
Net income 2022 -1,88 M - -
Net Debt 2022 343 M - -
P/E ratio 2022 -195x
Yield 2022 1,67%
Capitalization 635 M 635 M -
EV / Sales 2022 1,36x
EV / Sales 2023 1,31x
Nbr of Employees 2 300
Free-Float 61,8%
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Number of Analysts 3
Last Close Price 40,95 $
Average target price 50,33 $
Spread / Average Target 22,9%
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Managers and Directors
Michael T. Prior Chairman, President & Chief Executive Officer
Justin D. Benincasa Chief Financial Officer
Brad W. Martin Chief Operating Officer
Liane J. Pelletier Lead Independent Director
Bernie J. Bulkin Independent Non-Executive Director
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