Integra Telecom, a provider of fiber-based, enterprise-grade networking, communications and technology solutions, has closed its new $845 million senior secured credit facilities. The credit facilities include a $60 million revolving credit facility (undrawn at closing), a $585 million first lien term loan due 2019 and a $200 million second lien term loan due 2020. The net proceeds from the new credit facilities were used to refinance Integra’s previously outstanding term loan and bonds, including the redemption and tender premiums thereon, and for general corporate purposes.

In connection with the financing, Standard & Poor’s Rating Service affirmed Integra’s corporate family rating of B and revised its outlook to stable from negative, while Moody’s Investors Service affirmed its B3 rating and revised its outlook to positive from stable. The new credit facilities will lower the company’s annual cash interest expense by approximately $19 million and provide strong financial flexibility for the continued execution of the company’s strategic plan.