1 unchanged sentence
Throughout 2024, we borrowed a total of $125 million pursuant to the variable rate delayed draw Term Loans available under the Credit Agreement.
−Removed: As of December 31, 2023, Shentel has borrowed the full amount available under our Term Loans.
−Removed: As of December 31, 2023, the Company had $300 million of gross variable rate debt outstanding, bearing interest at 6.95%.
+Added: As of December 31, 2024, the Company had $418.0 million of gross variable rate debt outstanding.
+Added: The weighted-average interest rate was 6.42% for the Term Loans at December 31, 2024.
An increase in market interest rates of 1.00% would add approximately $4.1 million to annual interest expense.
In May 2023, Shentel entered into pay fixed, receive variable interest rate swaps totaling $150.0 million of notional principal (the “Swaps”).
−Removed: The Swaps contain monthly payment terms beginning in May 2024 which extend through their maturity dates in June 2026.
−Removed: The Swaps are designated as cash flow hedges, representing 50% of the Company’s expected outstanding debt.
−Removed: The Company uses the Swaps to manage its exposure to interest rate risk for its long-term variable-rate Term Loans through interest rate swaps.
−Removed: When the Swaps’ payments term begins, Shentel will effectively pay a fixed weighted-average interest rate of 2.90%, prior to interest rate margin provided under our credit facility.
+Added: The Swaps contain monthly payment terms that became effective in May 2024 which extend through their maturity dates in June 2026.
+Added: The Swaps are designated as cash flow hedges, representing 50% of the Company’s Term Loan A-1 and A-2 outstanding debt.
+Added: The Company uses the Swaps to manage its exposure to interest rate risk for a portion of its long-term variable-rate Term Loans through interest rate swaps.
+Added: When the Swaps’ payments term began, Shentel effectively pays a fixed weighted-average interest rate of 2.90%, prior to interest rate margin provided under our credit facility.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.