Hibernia Networks, one of the leading providers of high speed telecommunications solutions, announced that it has completed a $165 million senior secured credit facility with a new lender group that is led by MUFG and includes various other lenders like ING Capital, HSBC, Citizens Bank and CIT.
Hibernia Networks mentioned that this financing was done by leveraging financial advice from Bank Street Group LLC and this financing will not only pay down the existing debt of $97 million that the Company has, but also results in a substantial reduction in the interest rates of the senior notes. The additional money will provide Hibernia Networks with additional liquidity and will be used by the Company for accelerating further growth and expansion plans.
Original Post at: http://www.hibernianetworks.com/corp/wp-content/uploads/2013/02/HN-Press-Release-Refi_Final4__053116.pdf
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