Global capacity services provider Hibernia Networks has announced the completion of a USD52.5 million debt refinancing plan. In a press release yesterday the company, which has recently announced a name change from Hibernia Atlantic, confirmed that the proceeds of the refinancing were used to pay off existing indebtedness and will also provide ‘incremental liquidity’ for its future growth and working capital needs. Hibernia Networks added that the new lender group includes funds managed by affiliates of Fortress Investment Group and Bridge Bank.
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