Bank Street Arranges $135MM Alpheus Credit Facility
Bank Street Group announced that it served as joint lead arranger for a $135 million senior secured financing closed by Alpheus Communications. The financing is comprised of a $110 million term loan, $15 million underwritten delayed-draw term loan and $10 million revolving credit facility.
The financing solution also affords up to an additional $40 million under certain conditions with an accordion feature in order to accommodate future organic or strategic growth initiatives by 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,” said Scott Widham, CEO of Alpheus. “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.”
Alpheus Communications is a provider of metro and regional fiber networking and data center solutions serving carrier and enterprise customers in Texas.