Daily News: February 12, 2013

CoBank Commits $12MM to Increase Birch Credit Facility

Birch Communications announced that CoBank is now a syndicated lender in Birch’s senior secured credit facility. CoBank’s commitment of $12 million will increase the capacity of the company’s credit facility and provides additional funding capacity for Birch to continue to pursue accretive acquisitions.

“We are very pleased to begin a partnership with CoBank,” noted Edward James, Birch’s chief financial officer. “We see this support as an affirmation of our business model, leadership team and continued growth strategy. We’re looking forward to an exciting 2013 as we continue to take advantage of our firm financial footing and continue to grow our business.”

“We appreciate our new partnership with Birch and commend them for the leadership position they have built in the competitive telecom sector,” said Kevin Oliver, CoBank vice president.

Atlanta, GA-based Birch Communications provides managed communications and information technology services to a target market of small- and medium-sized businesses in select metropolitan areas within 38 states across the U.S.