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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
Of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 8, 2008
IOWA TELECOMMUNICATIONS
SERVICES, INC.
(Exact Name of Registrant as Specified in its Charter)
Iowa
(State or Other Jurisdiction of Incorporation)
Iowa 001-32354 42-1490040
(State or Other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
403 W. Fourth Street North
Newton, Iowa 50208
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (641) 787-2000
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
| | Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
| | Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
| | Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
| | Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Section 7 -- Regulation FD
Item 7.01 -- Regulation FD Disclosure.
Iowa Telecommunications Services, Inc. (the "Company") intends to
request an amendment to its Amended and Restated Credit Agreement, dated as of
November 23, 2004 (as amended from time to time, the "Credit Agreement"), among
the Company, the lenders party thereto and Rural Telephone Finance Cooperative,
as administrative agent. The proposed amendment will permit the Company greater
flexibility to acquire companies which have non-wholly owned subsidiaries, by,
among other things, not requiring acquired non-wholly owned subsidiaries to
guarantee the loans under the Credit Agreement. The proposed amendment will also
permit the Company to assume or acquire up to $20 million of existing
indebtedness of acquired entities. The proposed amendment will modify the
Company's excess cash flow prepayment obligations with respect to uses of the
revolving credit facility for permitted acquisitions. The Company anticipates
paying an amendment fee to those lenders under the Credit Agreement who consent
to the proposed amendment.
The proposed amendment to the Credit Agreement remains subject in all
respects to the negotiation and execution of definitive documentation to
effectuate such amendment and there can be no assurance that such an amendment
will be entered into or that the terms thereof will be consistent with those
identified above.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
Dated: July 8, 2008 Iowa Telecommunications Services, Inc.
By: /s/ Craig A. Knock
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Craig A. Knock
Vice President, Chief Financial Officer
and Treasurer
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