Intermedia Cloud Communications has secured $350 million in refinancing in a significant boost for its growth strategy.
The new financing was achieved by Intermedia entering into a new revolving credit facility and term loan with some of its existing lenders. These new loans will give Intermedia greater flexibility to invest in its business and are set to be paid back by April 2029.
Intermedia stresses that this refinancing was predicated on its strong financial performance, citing high growth in revenues and profitability.
Michael Gold, CEO of Intermedia, commented:
We are pleased to have the continued support of our lenders and believe this refinancing transaction underscores the strength of our growth strategy and the value of our products, our partner platform and our global infrastructure. Our new financing facilities increase our financial flexibility as we continue to invest in our cloud communications and collaboration offerings and partner relationships."
The company secured a new credit facility and term loan with support from MDP's Capital Markets Team and administrative agent TD Securities.
"We look forward to executing our growth strategy with the ongoing support of our investment partners at Madison Dearborn Partners (MDP) and the added resources of our lenders," added Gold.
Intermedia suggests its market presence continues to solidify as businesses shift from legacy on-premises communication systems to flexible cloud solutions. Serving 140,000 firms and partnering with over 7,500 channels globally, Intermedia says it leads in delivering modern, dependable, and secure cloud solutions to adapt to changing business demands.
