JACKSON, Miss.-Mobile Telecommunication Technologies Corp. said it successfully completed a consent solicitation approving certain amendments to the indenture of its 13.5 percent Senior Notes, due 2002.
Under the amended terms, Mtel said it will have increased borrowing capacity, subject to the terms of its existing bank credit facility, to meet the company’s anticipated long-term financing needs.
In addition, Mtel’s Latin American and Asian holding companies may be designated unrestricted subsidiaries, thereby taking them outside the scope of the indenture covenants, to facilitate the planned private placement of equity in these companies.
