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GlobeNewswire·

Gogo Completes Amendment and Extension of ~$600 Million Term Loan B Deleveraging Transaction

  • Gogo Inc. completed an amendment & extension of its Term Loan B supported by substantially all lenders.
  • The Term Loan B maturity is extended to October 2030, providing 2.5 additional years of runway.
  • The company executed an immediate $25 million paydown & plans to reduce total debt by $75 million through 2027.
  • CEO Chris Moore stated debt reduction remains the top capital allocation priority & the deal reflects lender confidence.
  • The extension aims to support Gogo's transformation strategy to become a global provider of high-speed broadband for business & military/government aviation.
  • GLC Advisors & Co., LLC served as exclusive financial advisor & White & Case LLP acted as outside counsel for Gogo.
  • Gibson Dunn represented the Ad Hoc group of lenders in the transaction.
Company
Gogo Inc.
Keywords
Nasdaq:GOGO, Gogo Inc.