[June 28, 2012] NTS Broadens Fiber Network in Wichita Falls, Texas Tweet Jun 28, 2012 (Close-Up Media via COMTEX) -- NTS, Inc., f/k/a Xfone, Inc. has announced that it plans to expand its fiber network to select areas of Wichita Falls, Texas, which, once completed, is expected to pass in excess of 1,000 business customers. The Company reported that it is funding this network expansion through a $3.1 million loan from existing lender ICON Investments. Additionally, NTS said it refinanced its short term note to Burlingame Equity Investors with a long-term, $3.5 million loan from ICON and agreed to certain amendments to the terms of its original $7.5 million loan. Guy Nissenson, Chairman and CEO of NTS, said, "This 'metro build' is attractive given the proximity to our existing network. The build is expected to include more than 1,000 potential business customers. We continue to examine different communities that can further expand our network and help reach additional customers. The refinancing of the Burlingame Note strengthens our balance sheet and improves working capital conditions. We are excited that the Company was able to refinance this note in advance of its due date, March 2013." NTS is a provider of high speed broadband services, including internet access, digital cable TV programming and local and long distance telephone service to residential and business customers in northern Texas and southeastern Louisiana. More Information: www.ntscom.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]