The Bank Street Group was the joint lead arranger for senior secured financing worth US$135 million. The financing was closed by Alpheus Communications and it is comprised of US$110 million term loan, US$15 million underwritten protracted draw term loan facility and a US$10 million revolving credit arrangement.
This financing solution would also include an extension of US$40 million when specific conditions are met as well as an accordion feature to allow future organic and strategic growth initiatives for Alpheus use.
According to Scott Widham, the CEO of Alpheus, "We are pleased to have accessed the credit markets on highly favorable terms and conditions in order to refinance our existing indebtedness and provide a solid base for future investment and growth, Bank Street's unique industry knowledge and insight, combined with the team's creativity and understanding of the credit markets, enabled Alpheus to structure and syndicate a transaction which most effectively addressed the company's capital requirements on an expedited basis."
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