Ribbon Communications (RBBN) has issued an update.
Ribbon Communications Inc. secured a comprehensive financing deal on June 21, 2024, through a $385 million credit agreement with HPS Investment Partners and Whitehorse Capital Management leading the transaction. This agreement enabled the company to settle previous debts and redeem its outstanding Series A Preferred Stock. Offering both term and revolving loan facilities, the credit arrangement also allows for future expansion of credit under certain conditions and includes a range of covenants and default provisions, ensuring the company’s adherence to financial ratios and restrictions on its operations.
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