Global Eagle Entertainment has completed a $40 million upsizing of its senior secured term loan due 2023, as well as an amendment to its term loan to reduce scheduled principal repayments over the next six quarters by an aggregate of approximately $26 million.
Net of fees and expenses, the amendment will result in approximately $61 million of incremental liquidity over the next 18 months. This supplements the company’s approximately $49 million of liquidity as of June 30, 2019, which includes cash and unused revolver capacity, and further enables the company to focus on executing its growth plans.
