On October 28, 2026, GCI, LLC—a wholly-owned subsidiary of Liberty Capital Corporation—entered into Amendment No. 3 to its Ninth Amended and Restated Credit Agreement. The amendment adds an incremental senior secured term A loan facility with an initial aggregate principal amount of $270 million, which matures on October 28, 2031. The new loans, denominated in SOFR, bear interest at a rate equal to the applicable SOFR plus a margin ranging from 2.50% to 3.25%, depending on GCI’s total leverage ratio. As of the filing date, the applicable margin is 2.50%.
Principal payments on the Incremental Term A-3 Loans are due quarterly at 0.25% of the original principal amount, a rate that may increase to 1.25% depending on GCI’s secured leverage ratio. The loans may be prepaid at any time without penalty, subject to customary breakage costs.
The proceeds from the new term loan, along with borrowings from an amended revolving credit facility and net of fees and expenses, were used on October 28, 2026, to redeem all approximately $451 million of GCI’s 4.750% Senior Notes due 2028. This redemption extended the maturity dates for GCI’s revolving credit facilities and Term A Loans, which were previously subject to a 91-day prior maturity, to March 25, 2030 for revolving facilities and March 25, 2031 for Term A Loans.
