News Column

Vonage Closes on New $225 Million, Four-Year Credit Facility

August 27, 2014



By a News Reporter-Staff News Editor at Telecommunications Weekly -- Capitalizing on the low interest rate environment and its strong financial position, Vonage Holdings Corp. (NYSE: VG) has closed on an expanded $225 million credit facility. The new debt agreement provides increased financial and strategic flexibility for investments in growth, including acquisitions.

The new facility consists of a four-year, $100 million senior secured term loan bearing interest at LIBOR plus 3.125 and a $125 million revolving credit facility. The Company used $90 million of the proceeds of the term loan to retire all current debt under its prior facility.

The lenders under the credit facility are JPMorgan Chase Bank, N.A., which also acted as administrative agent, Citizens Bank, N.A., Silicon Valley Bank, SunTrust Bank, Fifth Third Bank, Keybank National Association and MUFG Union Bank, N.A.

Keywords for this news article include: Telecommunications, Vonage Holdings Corp.

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Source: Telecommunications Weekly


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