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SunTrust, CIT Provide $210MM Facility to ExteNet Systems

October 30, 2013, 08:04 AM
Filed Under: Technology

ExteNet Systems, Inc. announced a new $210 million senior credit facility arranged by SunTrust Robinson Humphrey, Inc. and CIT Finance LLC.

Under the new facility, ExteNet has secured $210 million in borrowing capacity, consisting of a $140 million term loan, a $60 million delayed draw term loan, and a $10 million revolver. Proceeds of the new financing are being used to refinance existing debt and provide growth capital for investment in new networks and network expansions.

ExteNet President and CEO Ross W. Manire stated, “ExteNet is committed to providing seamless connectivity and significantly increasing data communications capacity for our customers through our distributed networks, both outdoors and indoors. Catalysts spurring our growth include network coverage and capacity needs driven by the proliferation of smart phones and the exponential growth in wireless data usage by consumers and businesses.”

Dan Timm, ExteNet EVP and CFO, added, “We are extremely pleased to have cost effectively expanded our capital resources with this new credit facility and are looking forward to continuing our aggressive growth trajectory.”

Sharif Metwalli at SunTrust Robinson Humphrey (STRH) said, “STRH has an extensive history serving leading and emerging companies in the communications sector, and we are very pleased to have led this new credit facility for ExteNet.”

In addition to SunTrust and CIT, participating in the financing are Brown Brothers Harriman, CapitalSource, Comerica, ING, The Private Bank, Toronto Dominion, and Webster Bank.

Reed Smith LLP acted as legal counsel to ExteNet Systems in connection with the financing.

Lisle, IL-based ExteNet Systems, Inc. designs, builds, owns and operates distributed networks for use by wireless carriers and venue owners in key strategic markets. Using distributed antenna systems (DAS), small cells, Wi-Fi and other technologies, ExteNet deploys networks to enhance coverage and capacity and enable superior wireless service in both outdoor and indoor environments.

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