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MUFG, Others Provide $165MM Credit Facility to Hibernia Networks

June 02, 2016, 07:04 AM
Filed Under: Telecom

Hibernia Networks, a leading provider of global, high speed telecommunications solutions, announces that it has completed a $165 million senior secured credit facility with a new lender group. The refinancing will be used to pay down existing indebtedness of $97 million, as well as provide incremental liquidity to fund organic and inorganic strategic initiatives in support of the company’s continued growth and expansion. The new lender group is led by MUFG, and includes ING Capital, Citizens Bank, HSBC, and CIT.

The new credit facility represents a substantial reduction in the interest rate on the company’s senior secured debt and provides for incremental liquidity enabling Hibernia Networks to accelerate the execution of its strategic objectives.

The Bank Street Group LLC acted as Hibernia Networks’ exclusive financial advisor for the refinancing.

Hibernia Networks owns and operates a global network serving more than 100 markets and spanning 25 countries.

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