KANSAS CITY, MO--(Marketwired - Jan 13, 2015) - Unite Private Networks (UPN) announced today it has secured a $272.5 million credit facility. Proceeds from the transaction will be used to support recently announced expansion strategies in Nebraska and Iowa as well as fiber-to-the-tower deployments for large national wireless carriers.
The financing transaction, arranged by SunTrust Robinson Humphrey and RBC Capital Markets, was met with very strong reception in the investor community. The syndicate yielded commitments well in excess of the targeted amount are from a diverse group of both existing and new credit investors, consisting of both traditional banks and large institutional asset managers.
"We are pleased to have secured a significant increase in our credit facility under favorable terms," said James Wilmsen, CFO at Unite Private Networks. "This facility, in addition to deepening our relationship with our existing lenders, provides the financial resources for us to continue to successfully deliver against the increasing communications network needs of our expanding customer base. We are very appreciative of the response of our lender partners and their consistent support of our metro fiber infrastructure focused business strategy."
About Unite Private Networks: UPN provides high-bandwidth, fiber-based communications networks and services to schools, governments, carriers, data centers, hospitals, and enterprise business customers across a 20 state service area. Service offerings include dark and lit fiber, private line, optical Ethernet, Internet access, data center services, and other customized solutions. Headquartered in Kansas City, MO, UPN has been providing customer focused communications solutions since 1998. For more information, visit www.uniteprivatenetworks.com.
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Media Contact:
Brandi Tubb
816-903-9400