D&E Communications Announces Closing of $100 Million Credit Facility.Business Editors/Hi-Tech Writers EPHRATA, Pa.--(BUSINESS WIRE)--Nov. 1, 2001 D&E Communications, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DECC DECC Duluth Entertainment Convention Center (Duluth, MN) DECC Defense Enterprise Computing Centers DECC Distance Education Coordinating Council DECC Danish-Estonian Chamber of Commerce (Tallinn, Estonia) ) today announced that it has entered into a $100 million unsecured credit facility with CoBank, ACB ACB American Council of the Blind ACB Asia Commercial Bank ACB America's Community Bankers ACB Adjusted Cost Base ACB Alliance for the Chesapeake Bay ACB Amphibious Construction Battalion (US Navy) ACB Australian Cricket Board . The facility consists of a $50 million term loan and a $50 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility. "We are very pleased with the opportunity to work with CoBank," said G. William Ruhl, D&E Communications' Chief Executive Officer. "The new facility allows us to refinance our existing debt and gives us the funding and financial flexibility to proceed with our regional expansion plans. CoBank was selected for their expertise in serving rural telecommunications providers and their ability to grow with us." About D&E: D&E Communications, Inc. is an integrated communications provider based in Lancaster County, Pennsylvania Lancaster County, Pennsylvania, known as the Garden Spot of America since the 18th century, is located in the southeastern part of the state of Pennsylvania, in the United States. . Through its subsidiaries and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. , D&E offers both local and long distance service, Internet service, voice, data and video equipment, and systems integration services. Comprehensive information about D&E Communications, Inc. is available on the World Wide Web at http://www.decommunications.com. About CoBank: With approximately $24 billion in assets, CoBank is owned by its 2,600 customers, consisting of U.S. rural communications and energy systems, agricultural cooperatives, Farm Credit associations and other businesses serving rural America. The bank provides financial solutions to these customers, along with leasing services provided through its subsidiary, Farm Credit Leasing Services Corp. CoBank's loans and commitment to rural communications and energy systems total approximately $8 billion. Loans and commitments to rural communications systems total almost $3.6 billion. It has more than 260 telecom customers, including wireless, cable television and LEC (1) (LAN Emulation Client) A software driver that provides LAN emulation (LANE) in an ATM network. It resides in an ATM end station or in a computer system that provides the LAN to ATM conversion, often known as a LAN access device. See LANE. financing. CoBank's national office is located in Denver, Colorado. Comprehensive information about CoBank is available on the World Wide Web at http://www.cobank.com. Note: This press release contains statements of D&E's strategies, plans, and objectives, as well as estimates of financial condition, operating efficiencies and revenue generation associated with the events referenced herein. These statements and estimates constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995), which involve significant risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic, competitive, governmental regulatory, and technological factors affecting the conduct of the business of D&E Communications, Inc. |
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