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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
HPS Investment Partners Agents $385MM Senior Secured Credit Facility for Ribbon Communications
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Lenders/Participants
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HPS Investment Parnters [Administrative Agent]
Whitehorse Capital [Joint Lead Arranger, Joint Bookrunner]
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Structure
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Senior Secured Credit Facility - $35oMM Term Loan; $35MM Revolving Credit Facility
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Amount
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$385.000
Million
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Borrower(s)
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Ribbon Communications
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Description
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Comprised of a $350 million term loan and a $35 million revolving credit facility. Proceeds from the term loan under the 2024 Credit Facility will be used to refinance the prior credit facility, redeem in full Ribbon's outstanding Series A Preferred Stock and pay fees, costs and expenses related to the 2024 Credit Facility. Excess proceeds from the term loan will be used for working capital and other general corporate purposes. Loans under the 2024 Credit Facility will mature on June 21, 2029. The loans will initially bear interest at a rate per annum equal to SOFR plus 6.25%. After Ribbon delivers the financial statements for the fiscal year ended December 31, 2024 pursuant to the 2024 Credit Facility, the interest rate will be SOFR plus a margin of 5.75% to 6.25% depending on the Company's consolidated net leverage. At the Company's option, interest may be calculated using an alternative base rate plus a margin ranging from 4.75% to 5.25%. Outstanding amounts under the 2024 Credit Facility are secured by substantially all of the assets of Ribbon, and certain of the Ribbon's subsidiaries.
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Industry
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Communications
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Location
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TX
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| Related Tags |
HPS Investment Partners, Ribbon Communications
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ABL Advisor
Deal Tables
2025
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