Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of secure and intelligent cloud communications, has announced that it has entered into a USD 100 million Senior Secured Credit Facilities Credit Agreement with Silicon Valley Bank, the bank of the world´s most innovative companies and their investors, the company said.
Silicon Valley Bank is serving as the issuing lender, swingline lender and lead arranger for the lending parties.
The Credit Agreement provides USD 100 million available for revolving borrowings by Sonus Networks, Inc., a wholly owned subsidiary of Ribbon, and also allows 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 USD 50 million for all incremental commitments under the Credit Facility. The Credit Agreement is scheduled to mature in December 2021, subject to certain conditions surrounding its existing subordinated debt arrangement. Additional information on the Credit Agreement will be filed with the Securities and Exchange Commission as a Current Report on Form 8-K.
Ribbon Communications is a company with two decades of leadership in real-time communications. Built on world-class technology and intellectual property, the company delivers intelligent, secure, embedded real-time communications for today´s world. The company transforms fixed, mobile and enterprise networks from legacy environments to secure IP and cloud-based architectures, enabling highly productive communications for consumers and businesses.
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at www.svb.com.