NEW CANAAN, Conn.-Centennial Cellular Corp.’s subsidiary Centennial Puerto Rico Wireless Corp. completed a long-term bank credit agreement.
The $130 million financing arranged by Citibank N.A. is meant to fully fund Centennial Puerto Rico’s plan to provide wireless and wired telephone service for Puerto Rico and the U.S. Virgin Islands.
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The facility is non-recourse to Centennial Cellular and provides for a return of capital to Centennial Cellular of $62 million, said the company.