Morgan Stanley Arranges Gogo Facility
Gogo announced it obtained a $75 million increase to its existing $248 million facility arranged by Morgan Stanley. Gogo intends to use the proceeds of the debt financing for general corporate purposes.
“We are very pleased to secure this $75 million of financing which provides Gogo additional flexibility as we grow our business internationally,” said Norman Smagley, Gogo’s EVP and CFO. “Our ability to obtain much more favorable terms with this financing is a reflection of our strong execution track record and continued support from long time partners Tennenbaum Capital Partners and Guggenheim Corporate Funding.”
Gogo is a global aero communications service provider.