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Webster Bank Leads $210MM Telecom Deal Between AMP Capital & Everstream Solutions

October 01, 2018, 08:16 AM
Filed Under: Telecom

Webster Bank's Sponsor & Specialty Group acted as the lead arranger and sole bookrunner on $210 million in senior secured credit facilities enabling AMP Capital to purchase a majority ownership stake in Everstream Solutions, a U.S. network service provider. Everstream is bringing fiber-based Ethernet, internet and data-center services to businesses throughout the American Midwest.

AMP Capital is a global investment manager, and the deal represents its fourth global communications infrastructure transaction and the first in North America.

"We appreciate the continued relationship and support we have received from Webster over the last three years we have been working together," said Brett Lindsey, CEO of Everstream.

"Webster's Sponsor & Specialty Group was able to apply its deep telecom industry expertise and broad capabilities in our role as the lead agent in this deal," said Matthew Kane, managing director and head of Webster Bank's Telecom and Technology Group. "We look forward to continuing our role in helping Everstream realize its growth ambitions."

The Sponsor & Specialty Group offers sophisticated investment support for deals in specialized sectors including TMT, healthcare, restaurant/franchise and general C&I.

Everstream will use the AMP Capital investment for acquisitions and to fund organic network growth and development. The investment will give Everstream the ability to drive growth and invest in larger networks as it expands.


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