Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
LOS ANGELES, Jan. 06, 2017 -- Global Eagle Entertainment Inc. (Nasdaq:ENT) (“GEE” or the “Company”), a worldwide provider of end-to-end connectivity and media to the airline, maritime and remote mobility markets, today announced that it has refinanced its existing credit facilities with a new $500 million senior-secured term-loan facility and a new $85 million senior-secured revolving credit facility. The Company will use the proceeds of the new term-loan facility to pay down all of the Company’s existing term-loan and revolving-credit facility debt.
“Our recent refinancing activities have better positioned GEE for future growth,” said Dave Davis, chief executive officer of GEE. “With the closing of these new facilities, we have improved our balance sheet with a lower effective interest rate to support our current growth initiatives and increased our overall liquidity.”
The new senior secured credit agreement includes a 6-year, $500 million term-loan facility at an interest rate of LIBOR+600 basis points. It also includes a 5-year revolving credit facility initially priced at LIBOR+600 basis points, which increases the Company’s revolving borrowing capacity to $85 million from $75.5 million under the previous revolving credit facility. At closing, the Company had no borrowings outstanding under its new revolving credit facility.
Citigroup Global Markets Inc. advised and led the execution of the refinancing for the Company.
About Global Eagle Entertainment (GEE)
Global Eagle Entertainment Inc. (NASDAQ:ENT) is a leading provider of satellite-based connectivity and media to fast-growing, global mobility markets across air, sea and land. Supported by proprietary and best-in-class technologies, GEE offers a fully integrated suite of rich media content and seamless connectivity solutions that cover the globe. With approximately 1,500 employees and 50 offices on six continents, GEE delivers exceptional service and rapid support to a diverse base of customers around the world. Find out more at: www.geemedia.com.
Kevin Trosian Senior Vice President, Corporate Development and Investor Relations +1 310-740-8624 [email protected]
