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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Agents Vonage’s Expanded $450MM Credit Facility
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Lenders/Participants
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JPMorgan Chase Bank [Administrative Agent]
Citizens Bank [Lender]
Fifth Third Bank [Lender]
MUFG Union Bank, N.A [Lender]
Silicon Valley Bank [Lender]
SunTrust Bank [Lender]
KeyBank [Lender]
Santander Bank [Lender]
Capital One Bank [Lender]
First Niagara Bank [Lender]
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Structure
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Amendment - $325MM Revolver; $125MM Term Loan
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Amount
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$450.000
Million
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Borrower(s)
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Vonage Holdings Corp.
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Description
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Under the terms of the 2016 Amendment, the lenders (i) provided $125 million in term loans, which were used in part to refinance the existing term loans which had an original amount of $100 million, and (ii) increased the revolving credit commitments by $75 million, from $250 million to $325 million. The loans and the credit commitments under the Credit Agreement will mature in May 2020. Principal amounts under the Credit Agreement are repayable in quarterly installments of $4,687,500 for the senior secured term loan. The unused portion of the revolving credit facility incurs a 0.45% commitment fee. Such commitment fee is subject to a sliding scale and will be reduced to (a) 0.40% if our consolidated leverage ratio is greater than or equal to 1.50 to 1.00 and less than 2.50 to 1.00, (b) 0.375% if our consolidated leverage ratio is greater than or equal to 0.75 to 1.00 and less than 1.50 to 1.00, and (c) 0.35% if our consolidated leverage ratio is less than 0.75 to 1.00.
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Industry
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Telecom
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| Related Tags |
Capital One, Citizens Bank, Fifth Third Bank, JPMorgan Chase, KeyBank, MUFG Union Bank, Santander Bank, Silicon Valley Bank, SunTrust Bank
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ABL Advisor
Deal Tables
2025
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