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alexch 
Member since Sep 21, 2017

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Re: “City Reveals Burlington Telecom Bids, But Questions Remain”

> That rate wold add a 1.4 million interest only debt load to BT in year one. How can they swing that?

I agree, it sounds high, and I'd love one of the KBTL board members to chime in here. But as I understand it...

1. The lender is a strategic partner, Maine Fiber, not a bank or private/institutional investor

2. The rate is high, but I doubt a bank will give you a loan, let alone at a better rate, if you're borrowing >$10M with no business history or collateral [though the new entity will own some fiber, not sure how that factors in]

3. BT is on track to make >$3M profit this year and KBTL will use some of that to pay down the loan

4. After some years they can refinance

7 likes, 13 dislikes
Posted by alexch on 09/21/2017 at 11:58 AM

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