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Gogo Reducing Debt Load with $100M Loan Prepayment
By making a $100 million prepayment, Gogo is reducing its long-term debt to $612.3 million and saving about $8.5 million annually in interest charges.
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Airborne connectivity provider Gogo plans to reduce its long-term debt by making a $100 million principal payment tomorrow. The Term Loan B prepayment will lower Gogo’s debt to $612.3 million and strengthen its financial foundation.

The transaction will reduce the company’s cash interest by approximately $4.5 million this year and $8.5 million on an annualized basis. There are no prepayment penalties associated with this transaction. As of April 28, Gogo had approximately $188 million in cash on hand and an undrawn revolver of $100 million.

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