Ribbon Communications, a global leader in secure and intelligent cloud communications, entered into a $100 million senior secured credit facilities credit agreement with Silicon Valley Bank. Silicon Valley Bank is serving as the issuing lender, swingline lender and lead arranger for the lending parties.

“We are delighted to have this opportunity to continue our partnership with Silicon Valley Bank and our lender group in support of Ribbon’s overall business and capital strategy by expanding the capacity of our previous facility,” said Daryl Raiford, executive vice president and CFO for Ribbon.

“We are excited to continue our relationship as Ribbon’s banking partner,” said Robert Clouse, director of Corporate Finance for Silicon Valley Bank. “We look forward to the opportunity to lead a financing arrangement that supports Ribbon’s merger integration activities and growth as it continues its evolution as a global leader in real-time communications.”

The credit agreement will provide $100 million available for revolving borrowings by Sonus Networks, a wholly-owned subsidiary of Ribbon, and will allow for additional financial institutions to become lenders, or for any existing lender to increase its commitment under the facility, subject to an aggregate increase of $50 million for all incremental commitments under the credit facility. The agreement is scheduled to mature in December 2021, subject to certain conditions surrounding its existing subordinated debt arrangement.