OnFiber Communications Inc. has executed a $25 million senior secured credit facility with Comerica Bank, and will use the funds to repay existing senior indebtedness, and pay for acquisitions and working capital to support growth.
Our customer-focused solutions continue to be very well-received, necessitating we procure capital available for rapid service deployment and additional growth, says Jim Tipton, vice president of finance. We could not be more pleased that we were able to tap the debt markets as a cost-effective source of capital.
The Bank Street Group LLC, a private investment banking firm, acted as the exclusive advisor and placement agent on the facility. Comericas Technology and Life Sciences Division led the effort for Comerica Bank.