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Hibernia Networks Completes $165 Million Financing

Originally posted on Hibernia Networks

Substantially lowers cost of capital and provides incremental liquidity

HiberniaNETWORK_logo4c_hiresDUBLIN, IRELAND – June 1, 2016 – 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. Read more