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Monday, June 6, 2011
Birch Communications Secures Major Finance Package
PRESS RELEASE - Birch Communications, a leading IP-based telecommunications and managed services provider to small- and medium-sized businesses, is pleased to announce that it has secured a $77.5 million finance package consisting of a senior term loan, a senior revolving credit facility, a tranche of subordinated debt, and a provision for up to a $7.5 million leasing facility. Birch will use this new financing to repay outstanding indebtedness, fund future acquisitions, fund network build-out and for general corporate purposes.
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