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Citizens Bank Agents Credit Facility Amendment for Ribbon Communications
Friday, March 5, 2021

Lenders/Participants Citizens Bank [Administrative Agent]
Santander Bank [Participant]
Silicon Valley Bank [Participant]
JPMorgan Chase Bank [Participant]
HSBC Bank USA [Participant]
Bank of America [Participant]
Barclays Bank [Participant]
M&T Bank Corporation [Participant]
Citibank [Participant]
Fifth Third Bank [Participant]
Bank of Hope [Participant]
Structure Credit Facility Upsize
Amount $75.000 Million
Borrower(s) Ribbon Communications
Description The amendment increased Ribbon's existing Term Loan A credit facility by approximately $75 million, which was provided by new banks joining the credit facility, as well as some of the existing banks under the credit facility increasing their commitments. Ribbon used the proceeds to pay off its outstanding Term Loan B balance, which had a 500 bps higher interest rate margin. The revised structure will also improve some loan covenant terms.
Industry Communications
Related Tags Bank of America, Barclays Bank, Citibank, Citizens Bank, Fifth Third Bank, HSBC Bank, JPMorgan Chase Bank, M&T Bank, Santander Bank, Silicon Valley Bank

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