HERNDON, VA, September 2017 ― Artel, LLC, completed a refinancing of existing debt that gives the firm significant annual cash interest expense savings and improved operational liquidity. Besides a new term loan, the facility includes a revolver and incremental facility. This structure provides operating flexibility as well as enabling the company to fund future growth plans.
Artel is a leading provider of highly secure, complex, customized end-to-end communications solutions for the U.S. Government. Artel’s ability to design and integrate terrestrial, satellite, and cyber technologies for mission-critical communications worldwide is underpinned by its healthy balance sheet, strong creditor backings, and deep customer relationships. The financial restructuring affords Artel the operational flexibility and comfortable liquidity to finance future capital expenditures to support the U.S. Federal Government’s global communication requirements.
“We are pleased to have completed this refinancing in such a positive manner. This refinancing gives us significant annual cash interest expense savings, improved cash flow, and provides the financial and operating flexibility to achieve our long-term growth objectives,” said Paul Domorski, the Company’s Chief Executive Officer. “This transaction will enable us to lower borrowing costs and increase our flexibility to fund future investment opportunities.” The credit facilities were financed by SunTrust and Capital One NA as Joint Lead Arrangers. “We are thrilled to work with Artel and co-lead a financing package that will enable Artel to grow as a company and continue to provide high-end secure communications solutions to their clients,” said Joshua Dearmon, Senior Vice President in Capital One’s Government Contracting Banking group. SunTrust Robinson Humphrey served as Left Lead Arranger and SunTrust Bank is Administrative Agent for this transaction.
Since 1986, Artel has delivered a full portfolio of satellite and terrestrial network communications and infrastructure, systems integration, cyber security, risk management, and IT solutions. Artel partners with Government and other industry leaders to enable customers all over the world to securely access and deliver content across all their networks and IT infrastructures―in every domain and environment. Please visit artelllc.com for additional information.