RCF
RevolvingCreditFacility · Shentel Broadband Operations LLC
Reference: RCF
- Outstanding
- —
- Commitment
- —
- Availability
- —
- Maturity
- Dec 5, 2030
Reported commitment: USD 175,000,000 Reported 2025-12-10 Disclosed facility capacity; the amount drawn and capacity available today are not established.
Last reported interest terms: Borrowings under the Credit Agreement will bear interest at term SOFR plus a margin ranging from 2.50% to 3.00%, depending on the Total Net Leverage Ratio (as defined in the Credit Agreement). Reported 2025-12-10 Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
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11.19 USA Patriot Act Notice · provide all such other documentation and information
The Borrower and each other Loan Party shall, promptly following a request by the Administrative Agent or any Lender, provide all such other documentation and information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation.
Applies to every series under this agreement Defined terms:
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Patriot Act: USA PATRIOT Act (Title III of Pub. L. 107–56 (signed into law October 26, 2001))
Source evidence: pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107–56 (signed into law October 26, 2001)) (the “*Patriot Act*”)
Full wording and supporting evidence
Source evidence: Each Lender that is subject to the Patriot Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower and the other Loan Parties that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107–56 (signed into law October 26, 2001)) (the “*Patriot Act*”), it is required to obtain, verify and record information that identifies the Borrower and each other Loan Party, which information includes the name and address of the Borrower and each other Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower and each other Loan Party in accordance with the Patriot Act. The Borrower and each other Loan Party shall, promptly following a request by the Administrative Agent or any Lender, provide all such other documentation and information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation.
Target identity evidence: This **CREDIT AGREEMENT** is entered into as of December 5, 2025, among SHENTEL BROADBAND OPERATIONS LLC, a Delaware limited liability company (the “*Borrower*”), Shentel Broadband Holding Inc., a Delaware corporation (“*Holdco*”), the other Guarantors (defined herein), the Lenders (defined herein), and BANK OF AMERICA, N.A., as Administrative Agent, Swingline Lender and L/C Issuer.
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Patriot Act: USA PATRIOT Act (Title III of Pub. L. 107–56 (signed into law October 26, 2001))
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11.16 Subordination · subordinates the payment
Each Loan Party (a “*Subordinating Loan Party*”) hereby subordinates the payment of all obligations and indebtedness of any other Loan Party owing to it, whether now existing or hereafter arising, including but not limited to any obligation of any such other Loan Party to the Subordinating Loan Party as subrogee of the Secured Parties or resulting from such Subordinating Loan Party’s performance under this Guaranty, to the indefeasible payment in full in cash of all Obligations.
Applies to every series under this agreement Exceptions: so long as no Default has occurred and is continuing, the Loan Parties may make and receive payments with respect to intercompany Indebtedness 11.16 Subordination
Full wording and supporting evidence
Source evidence: Each Loan Party (a “*Subordinating Loan Party*”) hereby subordinates the payment of all obligations and indebtedness of any other Loan Party owing to it, whether now existing or hereafter arising, including but not limited to any obligation of any such other Loan Party to the Subordinating Loan Party as subrogee of the Secured Parties or resulting from such Subordinating Loan Party’s performance under this Guaranty, to the indefeasible payment in full in cash of all Obligations. If the Secured Parties so request, any such obligation or indebtedness of any such other Loan Party to the Subordinating Loan Party shall be enforced and performance received by the Subordinating Loan Party as trustee for the Secured Parties and the proceeds thereof shall be paid over to the Secured Parties on account of the Secured Obligations, but without reducing or affecting in any manner the liability of the Subordinating Loan Party under this Agreement. Without limitation of the foregoing, so long as no Default has occurred and is continuing, the Loan Parties may make and receive payments with respect to intercompany Indebtedness; *provided*, *that*, in the event that any Loan Party receives any payment of any intercompany Indebtedness at a time when such payment is prohibited by this Section 11.16, such payment shall be held by such Loan Party, in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to the Administrative Agent.
Target identity evidence: This **CREDIT AGREEMENT** is entered into as of December 5, 2025, among SHENTEL BROADBAND OPERATIONS LLC, a Delaware limited liability company (the “*Borrower*”), Shentel Broadband Holding Inc., a Delaware corporation (“*Holdco*”), the other Guarantors (defined herein), the Lenders (defined herein), and BANK OF AMERICA, N.A., as Administrative Agent, Swingline Lender and L/C Issuer.
Documents and filing history
- GoverningAgreement · EX-10.2 · 2025-12-10 — EXHIBIT 10.2
- Refinancing · 8-K · 2025-12-10 — FORM 8-K
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Refinancing
· 2025-12-05
Commitment USD 175,000,000 Exact source document
Parent 8-K filing · 2025-12-10
Concurrently, Shentel Broadband Operations LLC (the “Borrower”), a wholly-owned indirect subsidiary of Shentel, entered into a Credit Agreement, dated December 5, 2025 (the “Credit Agreement”), with Shentel Broadband Holding Inc. (“Holdco”), certain subsidiaries of Holdco as guarantors (together with the Borrower and Holdco, the “Loan Parties”), the various financial institutions party thereto (the “Lenders”) and Bank of America, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). The Credit Agreement provides for a revolving credit facility up to an aggregate principal amount of $175 million (the “RCF”) which matures on December 5, 2030. The Credit Agreement replaces the Borrower’s existing credit agreement, dated as of July 1, 2021 and as amended through the date hereof (the “Existing Credit Agreement”), which was terminated after all outstanding borrowings thereunder were repaid with the net proceeds from the offering of the Series 2025-1 Notes, as discussed above.
Issuer evidence: Concurrently, Shentel Broadband Operations LLC (the “Borrower”), a wholly-owned indirect subsidiary of Shentel, entered into a Credit Agreement, dated December 5, 2025 (the “Credit Agreement”), with Shentel Broadband Holding Inc. (“Holdco”), certain subsidiaries of Holdco as guarantors (together with the Borrower and Holdco, the “Loan Parties”), the various financial institutions party thereto (the “Lenders”) and Bank of America, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). The Credit Agreement provides for a revolving credit facility up to an aggregate principal amount of $175 million (the “RCF”) which matures on December 5, 2030. The Credit Agreement replaces the Borrower’s existing credit agreement, dated as of July 1, 2021 and as amended through the date hereof (the “Existing Credit Agreement”), which was terminated after all outstanding borrowings thereunder were repaid with the net proceeds from the offering of the Series 2025-1 Notes, as discussed above.
Supporting evidence: Borrowings under the Credit Agreement, including the RCF, are secured by substantially all of the assets of Holdco and by substantially all of the assets and equity interests of the subsidiaries of Holdco, excluding the Obligors and Notes Guarantors (each as defined above). Borrowings under the Credit Agreement will bear interest at term SOFR plus a margin ranging from 2.50% to 3.00%, depending on the Total Net Leverage Ratio (as defined in the Credit Agreement). The Borrower borrowed $75 million under the RCF upon signing the Credit Agreement.
Supporting evidence: Concurrently, Shentel Broadband Operations LLC (the “Borrower”), a wholly-owned indirect subsidiary of Shentel, entered into a Credit Agreement, dated December 5, 2025 (the “Credit Agreement”), with Shentel Broadband Holding Inc. (“Holdco”), certain subsidiaries of Holdco as guarantors (together with the Borrower and Holdco, the “Loan Parties”), the various financial institutions party thereto (the “Lenders”) and Bank of America, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). The Credit Agreement provides for a revolving credit facility up to an aggregate principal amount of $175 million (the “RCF”) which matures on December 5, 2030. The Credit Agreement replaces the Borrower’s existing credit agreement, dated as of July 1, 2021 and as amended through the date hereof (the “Existing Credit Agreement”), which was terminated after all outstanding borrowings thereunder were repaid with the net proceeds from the offering of the Series 2025-1 Notes, as discussed above.
Supporting evidence: Concurrently, Shentel Broadband Operations LLC (the “Borrower”), a wholly-owned indirect subsidiary of Shentel, entered into a Credit Agreement, dated December 5, 2025 (the “Credit Agreement”), with Shentel Broadband Holding Inc. (“Holdco”), certain subsidiaries of Holdco as guarantors (together with the Borrower and Holdco, the “Loan Parties”), the various financial institutions party thereto (the “Lenders”) and Bank of America, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). The Credit Agreement provides for a revolving credit facility up to an aggregate principal amount of $175 million (the “RCF”) which matures on December 5, 2030. The Credit Agreement replaces the Borrower’s existing credit agreement, dated as of July 1, 2021 and as amended through the date hereof (the “Existing Credit Agreement”), which was terminated after all outstanding borrowings thereunder were repaid with the net proceeds from the offering of the Series 2025-1 Notes, as discussed above.